Coesia Group has announced the finalization of its previously announced acquisition of Oystar North America, following the agreement originally signed and announced in October 2012.
Oystar North America is renamed as R.A Jones & Co with immediate effect.
Coesia Group chief executive officer Angelos Papadimitriou said the acquisition of R.A Jones transforms it into a packaging machinery company with revenues of more than $400m of North American and four production facilities in the US.
Italian industrial solutions company Coesia is fully owned by Isabella Seràgnoli.
R.A Jones, which reported revenues of over $200m, has two US facilities in Davenport, Iowa and Covington, Kentucky.