Perlen Packaging, which is focused in film manufacturing and film coating, has agreed to acquire a majority stake in Brazil’s Sekoya Indústria e Comércio.
Under the terms of the deal, Perlen Packaging, which is a packaging division of the CPH Group, has agreed to acquire 60% stake in Sekoya, which owns a finishing plant in Brazil.
The finishing plant is equipped to produce film products to the specific needs of the region’s pharmaceuticals customers.
The acquisition is expected to enhance Perlen's supplier flexibility while serving the Latin American market faster and more efficiently.
Financial terms of the deal, which is planned to be completed by the end of February 2018, were undisclosed.
Sekoya, which was established by Wellington Branquinho in 2012, has been Perlen Packaging’s representative and business partner for the Brazilian market.
CPH Group CEO Peter Schildknecht said: “We are delighted that Perlen Packaging will now have its own distribution company and finishing plant not only in North America but in Latin America too.
“Following our expansion in Asia, this acquisition marks a further major step in our packaging division’s implementation of its global business strategy.”
Two years ago, Perlen Packaging has launched a new coatings plant in China to better serve the pharmaceuticals market in Asia.
Over the next few months, Sekoya plans to move to a new business location in Goiania, Brazil, to permit further expansion.