Germany’s Weener Group has acquired the remaining shares of Indian firm Weener Empire Plastics for an undisclosed amount, having been a minority shareholder in the Mumbai-headquartered company for eight years.
The deal, which includes seven factories across India, is the next step in the Weener Group’s global expansion project, according to Roel Zeevat, chief executive of the Weener Plastic Packaging Group. Weener Empire Plastics manufactures plastics closures and containers for the personal care, food and pharmaceutical industries.
Managing director A. B. Gupta and director Abhinav Gupta will keep their current positions and stay on the board of the Indian operations. The group is now looking at increased focus on organic growth through existing and new customers in the fast changing Indian market.
The Weener Plastics Packaging Group employs 2,000 people and has 31 facilities in 20 countries. It also integrated the Plasticum Group into the business in June 2013.