Ardagh Group is to buy European packaging group Finanziaria di Partecipazioni Industriali (Fi Par) in a deal worth up to 125M/Euros. Fi Par is involved in the production of metal packaging for the food & aerosol markets in Italy & Greece, trading under the names In Cam, National Can Italiana, Eurobox, European Aerosol Can, & National Can Hellas. The acquisition, which has been approved by competition regulators in Italy, is expected to be completed in early April. CE Niall Wall said the deal would reinforce Ardagh's position in the key product areas of metal food containers & aerosols. "Annual group sales in Italy including glass & metal will now be substantially increased, making this one of our key geographies & further strengthening our presence in southern Europe," he said. "This is a really good transaction. Fi Par is a very successful business with an excellent reputation that will enhance Ardagh's overall position in Europe. We are very excited about its addition to our group." Ardagh, which produces metal and glass packaging for food, beverage & consumer product brands around the world, employs 14,000 people in 24 countries, & has annual sales of more than 3.2BN/Euros.
