Sweden-based Indutrade has acquired all of the shares in Verbeeck Packaging Group based in Wilrijk, Belgium which has annual sales of €5m.
Verbeeck is made up of a number of companies that specialise in producing cosmetics, pharmaceutical, industrial, food and household packaging.
It specialises in producing packaging in glass and plastics (PE, PP PET, PETG) and a complete range of packaging accessories (caps, pumps) apart from an extensive range for packing colour cosmetics (make-up, lipsticks, promotional items) and a full line of flexible tubes in PE, laminate and multi-layer.
The group has worked in close cooperation with Indutrade's company Aluglas in the Netherlands for many years.
The company said in a statement that the acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Verbeeck will be part of Indutrade Benelux in Indutrade's Special Products business area.
Indutrade that markets and sells components, systems and services with a high-tech content within selected niches is distinguished in five business areas of engineering and equipment, flow technology, fluids and mechanical solutions, industrial components and special products.
It has acquired more than 90 companies in the last decade which have accounted for a large share of the company's sales.
The company says that it specialises in acquiring niche technology companies in countries with a strong trading tradition like the Benelux countries - Denmark, Norway, Sweden, Finland, Switzerland, the UK and Austria.
Indutrade recorded sales totalling $1173.62m (SEK8,831m) in 2013 with operating income of $131.57m (SEK990m) before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.
