Berlin Packaging has reached an agreement to acquire Netherlands-based Novio Packaging Group B.V., a strategic transaction expected to significantly strengthen Berlin Packaging's European plastic offering, enhance its expertise in personal care, pharmaceutical, food and sports nutrition verticals, and expands its northern European footprint.
Berlin Packaging's European companies are comprised of specialty glass market leader Bruni Glass, closure experts Bruni Erben and four other companies acquired in 2019. The addition of Novio Packaging to Berlin Packaging's existing European companies is expected to create a unique packaging supplier for glass, plastic, and metal containers and closures with a full suite of income-boosting services designed to grow customers' net income.
With several offices across northern Europe and approximately 160 employees, Novio Packaging has a track record of both organic and acquisitive growth, completing four acquisitions in the past two years. Chicago-based Berlin Packaging is a $2.6 billion global supplier of rigid packaging products and services to customers of all types across all sectors. Novio Packaging marks Berlin's 13th overall acquisition since 2010 and fifth in 2019, adding strategic locations throughout Northern and Southern Europe.
"Acquiring Novio fully solidifies our European positioning, giving us the ability to help customers of all sizes, including multi-national corporations, across all market segments, grow their bottom lines with our packaging products and services," Berlin Packaging Chairman and CEO Andrew Berlin said in a statement. "It provides tremendous cross-selling opportunities, a robust sales pipeline, and a perfect platform for continued European expansion."
All of Novio Packaging's employees and locations will be retained in this process. The transaction is subject to customary closing conditions and is expected to be completed in the next 45 days. Financial details were not disclosed.
Berlin Packaging was advised by De Brauw Blackstone Westbroek. Paul, Weiss, Rifkind, Wharton & Garrison provided legal counsel. Novio Packaging was advised by Nielen Schuman on the financial side and Allen & Overy for legal considerations.