Packaging and glass company Ardagh Group has agreed to buy Italian metal packaging company Fi Par.
Fi Par produces metal packaging for the food and aerosol markets in Italy and Greece. Fi.Par trades under the names of In Cam, National Can Italiana, Eurobox, European Aerosol Can, and National Can Hellas.
The Fi.Par Group had sales worth around €150m last year and employs 440 people in its five manufacturing locations - four in Italy and one in Greece. The acquisition has been approved by the Italian competition authority and is likely to be completed in early April.
Ardagh Group employs 14,000 people and has global sales of more than €3.2 billion.
Niall Wall, CEO of Ardagh Group, said Fi Par was a successful business with an excellent reputation, and the deal would enhance Ardagh's position in Europe. No financial details of the deal were given.
