PE-backed Garda Plast sells division to trade

Gruber, based in Ora, generates a €340m turnover and operates facilities in 24 locations in Asia and Europe. The acquisition saw the two parties agree on the long-term ambitions of the transportation and logistics division, according to a statement.

Progressio acquired a controlling stake in Garda Plast through its Progressio Investimenti II vehicle in 2017. In March this year, Garda Plast acquired Ifap, which specialises in the production of preforms and bottles made of PET (polyethylene terephthalate), a thermoplastic resin, for detergents, milk, dairy products and fruit juices. 

Company
Established in 1996 and based in Brescia, Garda Plast produces preforms and PET bottles for mineral water, soft drinks, milk, oil, detergents and cosmetics producers. The business generates a turnover of €80m.

People
Garda Plast - Massimo Cutolo (CEO).  
Gruber Logistics - Martin Gruber (CEO).

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• Topics
• Exits
• Southern Europe
• Industrials
• Italy
• Progressio SGR
• Trade sale