Global packaging leader TricorBraun is expanding its portfolio to better serve branded and private label companies. TricorBraun has agreed to purchase glass packaging supplier Vetroelite from LBO France, expanding its presence in the European market. TricorBraun continues to expand with the deal, as it acquired Australian packaging firm Cormack Packaging in September.
Vetroelite provides glass packaging for spirits, gourmet food, home fragrances, wine, cosmetics and more, operating across Europe and North America and serving customers in 90 countries. With the acquisition, TricorBraun will expand its operation, currently serving more than 60 locations across the Americas, Europe, Asia, Australia, and New Zealand.
“We are very pleased to expand our European presence with the acquisition of Vetroelite,” said Court Carruthers, president and CEO of TricorBraun. “The Vetroelite team has established a strong reputation for high-quality, innovative packaging solutions, fueled by deep expertise and dedicated customer service. We are proud to welcome Vetroelite to the TricorBraun family, and look forward to supporting Vetroelite’s continued growth.”
LBO France acquired Vetroelite, headquartered in Milan, Italy, in 2017 and has provided significant investment and management support, resulting in Vetroelite’s consistent and substantial growth. All Vetroelite team members, including CEO Daniele Feletto and the company’s leadership team, will remain with TricorBraun and continue to work out of the company’s existing locations. Effective with the closing of the transaction, Vetroelite will operate as Vetroelite, a TricorBraun company.
“At Vetroelite, our commitment to providing customers with innovative, distinctive, and high-quality glass packaging drives everything we do,” said Daniele Feletto, CEO of Vetroelite. “We know TricorBraun shares that same passion and purpose, and we are delighted to join such a respected packaging leader.”