TricorBraun To Acquire Vetroelite
Acquisition Strengthens Company's European Presence and Continues its Global Expansion
ST. LOUIS, Oct. 12, 2021 /PRNewswire/ -- Global packaging leader TricorBraun announced today that it has entered into an agreement to acquire premium glass packaging supplier Vetroelite from LBO France. The acquisition strengthens TricorBraun's European presence and continues the company's global expansion.
Founded in 1994, Vetroelite provides premium glass packaging solutions for the fast-growing spirits, gourmet food, home fragrances, wine, and cosmetics industries. Vetroelite has a worldwide presence, operating from multiple locations across Europe and North America and serving customers in 90 countries.
"We are very pleased to expand our European presence with the acquisition of Vetroelite," said Court Carruthers, president and CEO, TricorBraun. "The Vetroelite team has established a strong reputation for high-quality, innovative packaging solutions, fueled by deep expertise and dedicated customer service. We are proud to welcome Vetroelite to the TricorBraun family, and look forward to supporting Vetroelite's continued growth."
All Vetroelite team members, including CEO Daniele Feletto and the company's leadership team, will remain with TricorBraun and continue to work out of the company's existing locations. Effective with the closing of the transaction, Vetroelite will operate as Vetroelite, a TricorBraun company.
"At Vetroelite, our commitment to providing customers with innovative, distinctive, and high-quality glass packaging drives everything we do," said Daniele Feletto, CEO, Vetroelite. "We know TricorBraun shares that same passion and purpose, and we are delighted to join such a respected packaging leader."
LBO France acquired Vetroelite in 2017 and since then, has provided significant investment and management support, resulting in Vetroelite's consistent and substantial growth.
Since its founding, TricorBraun has partnered with management teams to successfully acquire and further accelerate growth for nearly 30 packaging companies. Vetroelite will mark TricorBraun's fourth acquisition this year.
The transaction is expected to close later this month.
About Vetroelite
Vetroelite is one of Europe's leading designers and distributors of high-end glass packaging. The company offers an exclusive range of glass containers (bottles, carafes, flasks and jars) for liquid products, food products, room fragrances and other perfumery, cosmetic and body care products.
About TricorBraun
Founded in 1902, TricorBraun is a global packaging leader and North America's largest distributor of primary packaging. We provide innovative solutions across a wide array of customer end markets in plastic and glass containers, closures, dispensers, tubes and flexibles. Our award-winning Design & Engineering Center provides forward-thinking design, driven by consumer insight and creative solutions. As a leading purchaser of packaging in the world, we leverage our global supply chain expertise, expansive and sustainable footprint, and significant purchasing power and scale to identify the very best sourcing partners and provide cost-effective solutions for our customers. TricorBraun operates from more than 60 locations across the Americas, Europe, Asia, Australia, and New Zealand.
SOURCE TricorBraun
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