The Weener group, a German based global corporation, has acquired the remaining shares of the Mumbai headquartered Weener Empire Plastics (WEPL) for an undisclosed sum.
The transaction was completed on December 21 and includes seven factories across India to increase its growth in emerging markets.
Roel Zeevat, CEO, Weener Plastic Packaging Group said WEPL has performed well in the past and it will target this growth in the coming years.
“This acquisition is aligned to our strategy of enhancing our footprint in the emerging markets,” he added.
Weener Empire Plastics manufacturers plastic closures and containers for the personal care, food and pharmaceutical industry. It had been a minority shareholder for the group for eight years.
Weener Plastic Packaging Group employs 2,000 people and has 31 facilities in 20 countries across the world.