European aerosol and liquids manufacturer Colep has become the sole shareholder of three Brazilian manufacturing operations, after acquiring the 49 per cent stake previously held by ZM Participação.
The packaging company first entered the Latin American personal care market in 2010 with the acquisition of a 51 percent stake in Provider, Total Pack and CPA (Colep Provider Aerosol). Although Colep was already a controlling shareholder, this acquisition will hand the company sole responsibility for the management of the operation in this market.
The company stated that the purchase formed part of its international strategy to reinforce its business in different regions, particularly the Americas.
Vitor Neves, Colep CEO said: “With this move, Colep consolidates its leading position in the Latin American aerosol and consumer goods markets in which it currently owns three industrial plants in Brazil and one in Mexico.”