Progressio SGR has successfully added Ifap to the Garda Plast platform it acquired eight months ago.
Garda Plast is a leading player in Italy for the production of preforms in PET for mineral water, soft drinks and detergents.
Ifap was founded in 1959 by the Bruseschi family and is based in Palmanova (UD). The company is active in the production of preforms in PET (detergent & dairy industries), bottle blowing and the production of caps for the pharmaceutical industry.
Garda Plast will continue to strengthen its market position by expanding into adjacent segments of the industry through organic growth and further acquisitions.
Filippo Gaggini, Managing Partner of Progressio, says: “We invested in Garda Plast with the aim of expanding the project through acquisition, with the intention of becoming a market leader. We are therefore proud that a company like Ifap, a typical example of Italian excellence, will become part of the Group. We are equally honoured to welcome into the management team two such high standing individuals as Pietro and Marco Bruseschi.”
Massimo Cutolo, CEO of Garda Plast, says: “Garda Plast represents Italian excellence, and its integration with Ifap will give new life to the Italian leader in its three main market segments (beverage, milk and detergent). Our aim for 2018 is to produce over 3 billion preforms. Strong synergies, both commercially and in production, will further strengthen our competitive advantage, allowing us to grow in the near future through greater geographical coverage in Italy and abroad.
