TriMas, a leading manufacturer and provider of products for customers mainly in the consumer products, industrial, and aerospace end market, has reportedly signed a new agreement to procure Affaba & Ferrari Srl, a leading designer and producer of precision closures and caps for F&B and industrial product applications.
The transaction is anticipated to close before the end of 2020, following which Affaba & Ferrari would effectively becoming a part of the Packaging segment of TriMas, directly reporting to the company’s Rieke division.
Thomas Amato, President and Chief Executive Officer, TriMas, stated that the acquisition would supplement the company’s current industrial and F&B product offerings, brining novel blue-chip customers and a new and advanced manufacturing operation to company’s European base.
Affaba & Ferrari provides exclusive product designs and production capabilities for both aseptic applications as well as crucial food packaging safety certifications, including the British Retail Consortium/Institute of Packaging Global Standard, and the FDA/ Interstate Milk Shippers Compliance, which will eventually enable TriMas to expand its existing product offering to its F&B customers worldwide.
At present, Affaba & Ferrari offers an innovative product range which includes aseptic caps for sport isotonic/energy drinks, dairy products, and juices, along with tamper evident, flex spout, child-proof, induction, and other closures and caps utilized in industrial, agrochemical, and F&B applications.
Amato further stated that the company is thrilled to add the Affaba & Ferrari brand and business to Packaging group of TriMas. This merger would further unlock various additional expansion and new growth opportunities on a global level.
The planned acquisition by TriMas represents its fourth acquisition in the packaging market since the start of 2019. The actions are consistent with the company’s strategy of expanding its packaging platform. The company would further discuss any additional details associated with the transaction on its Q3 2020 earnings conference.