Italy-based packaging equipment provider Industrial Machine Automation (IMA) has entered into an agreement to acquire 40% stake in Transworld Packaging's subsidiary ILAPAK, which offers manufactures packaging machines for the food industry.
This agreement is expected to allow IMA and ILAPAK to benefit from important synergies, in order to facilitate the growth of the businesses.
Under the terms of the deal, IMA will contribute €9m in Transworld Packaging, which will be used to recapitalize its Swiss subsidiary ILAPAK International.
On completion of the deal, IMA will have acquired 40% ownership in Transworld Packaging with an option to increase up to 51%.
Ilapak International, headquartered in Switzerland, is involved in design and manufacture of industrial wrapping machinery for packaging applications. It offers horizontal, form, fill, and seal packaging machines with rotary jaws for application in food and non-food industries; vertical packaging machinery for packing loose products, fresh or frozen produce, powders, liquids, and granulated products among others.
