Proenfar is a major player in the Colombian market and throughout the Latin American, so the deal will in turn help Weener to expand its footprint all over the region and follows its strategy to grow in emerging markets.
The agreement was signed last week between the two companies and will be subject to customary closing conditions, but both companies have agreed not to disclose the terms, conditions and cost of the transaction.
Expanding Weener’s LATAM footprint
Netherlands based Weener has a strong presence in the European market, but has been making inroads to expand its global presence in recent years.
Proenfar is based in the Colombian capital of Bogota, employs more than 1.600 people, has factories in Colombia, Argentina and Mexico, and is focused on packaging solutions for the pharmaceutical and personal care markets.
The company exports its packaging to more than 20 countries through the Americas, and has long-standing business dealings and customer relationships with both local companies and multinationals.
Acquisition means strategic growth
The deal is also a strong fit within Weener’s existing product portfolio, specifically because of Proenfar’s extensive experience in the deodorant packaging category.
In addition to this, Weener is also expanding beyond its mainstay business of personal care packaging, into the pharmaceuticals packaging market.
"The acquisition of Proenfar marks an important milestone in our successful international expansion. I am convinced that our customers will benefit from this transaction as Proenfar shares our strong focus on innovation and customer service,” said Roel Zeevat, CEO of WP.
“We look forward to working together with Proenfar's experienced management team and welcome all their employees to the WP group."