Livingstone’s Industrial sector team has advised CPC Packaging, a provider of packaging and labeling solutions across Europe, on the acquisition of Fina Flexible Packaging, a Spanish provider of flexible packaging.
Headquartered in Paterna (Valencia), Fina Flexible Packaging is a premium Spanish family-owned provider of flexible packaging that specialises in advanced, complex and customised solutions in rotogravure and flexography for leading companies in the food industry and other sectors. With over 40 years of experience, Fina is widely recognised in the Spanish industry as a specialised supplier that applies new technologies in the industry with a proven track record of new product development.
Based in Montreuil (Paris), CPC Packaging offers a large range of packaging and labelling solutions to food and hygiene companies.
The management team of CPC Packaging commented: “CPC is very pleased to announce its acquisition of FINA. The Livingstone team gave us great on the ground support and understanding of negotiations in Spain and with family businesses. We worked closely together and they helped us achieve an excellent outcome. They added: This important step forward comes on top of record investments last year and will vastly enhance and increase our capacity to offer various Flexible solutions, especially in wider – web gravure and flexo printed laminates. This acquisition will significantly broaden our geographical coverage of European markets, Fina having a very – well established customer base in the food sector in Spain and Western Europe. CPC pro forma sales will be around 160m€ this year with 10 plants in France, Germany and Spain and 700 employees. We produce and sell various type of printed cartons, labels and flexible for food and hygiene companies. We offer one – stop – shop printed packaging bespoke solutions to our customers all over Europe.”
Francisco Salvador, ex-President of the Board of Fina Flexible Packaging, said: “We are very pleased with the outcome of this transaction as it guarantees the continuity of the Company’s activity now being part of an established group within the same expanding packaging sector. I would like to thank the Livingstone team who has played a key role moving the needs of the acquirer in a way that proved both constructive and concise. Neil, Diego and Pablo’s positive approach, dedication and availability have been outstanding throughout the process.”
Diego Moreno, Director of Livingstone, added: “With the sale of Fina to a large European group such as CPC, the Salvador Cardo family and Mr. Jaime Pujol successfully put an end to a long journey originated over 40 years ago. Fina represented a highly attractive target to CPC offering geographic location, commercial positioning, sector knowledge and technology equipment. We are convinced that CPC is now ideally positioned to benefit from the strong synergies between the two companies.”