Sweden-based Rosti Group has completed the acquisition of majority shares in Turkish injection molder Tebplast Plastik (Tebplast) from the Teber family.
Tebplast will be integrated into Rosti Group's packaging division and operate under the name Rosti Tebplast. The Teber family will have its shares in the company.
Rosti Group Packaging division head Magnus Emeus said, "Combining the Tebplast capabilities with the competence and sales network of the Rosti Group will create great growth opportunities both inside and outside Turkey."
The newly formed division will offer Rosti access to filled plastic packaging markets to provide cost effective solutions in the Turkish as well as Western European markets.
Rosti Group CEO Borje Vernet said the group is making good progress in implementing its long term strategy, by growing the business both organically and by acquisitions, towards its 2016 target of €600m sales.
"We have made 2 good acquisitions in the last year and we are confident that we will be adding further acquisitions in the medium term," Vernet added.
Formed in 1980, Tebplast is a supplier of injection molders and operates 40 IML production lines that supply products to the dairy, fresh food and chilled and frozen food markets.
