AXA Private Equity acquires a 70 per cent stake in Bruni Glass
AXA Private Equity has agreed to acquire a majority 70 per cent stake in Bruni Glass, a European provider of glass containers for spirits, food, pharmaceutical products and related accessories.
Alongside AXA Private Equity, the founding members and the management of Bruni Glass took part in the deal with a total stake of 30 per cent.
Bruni Glass, founded in 1974, has been a market leader in glass containers for wine, champagne, food and pharmaceutical products for over 35 years, with a particular expertise in speciality products, often developed to meet a customer's specific requirements. The group is well known for the provision of bottles for spirits in high-end markets. Bruni’s target markets are Italy and all Western economies, with a particular focus on North America.
In 2011, the group had a turnover of more than EUR108m, with almost 60 per cent of its sales abroad. Bruni has grown by 16 per cent in the last two years.
Nicolò Saidelli, managing director and mid market enterprise capital team leader for Italy at AXA Private Equity, says: "We are excited to support Bruni Glass as it enters the next stage of its development. The group has performed strongly over the years, thanks to the efforts of its management. AXA Private Equity will work alongside Bruni as it identifies new markets to further expand its international presence. We will also support the group’s acquisition strategy as it continues to grow in the future."
Gino Del Bon, president of Bruni Glass, says: "Technological innovation and attention to design have always been the key strengths of Bruni Glass. Thanks to our new partner in AXA Private Equity, we are now in a position to both accelerate our growth plans and broaden our international network."
AXA Private Equity and Bruni Glass were advised by Vitale & Associati, the independent financial adviser.
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