Chilean firm Alusa has agreed to buy a Colombian flexible packaging company to “consolidate its position as an important player in the region”.
Alusa a flexible packaging subsidiary of Madeco, agreed to buy Carvajal-owned Empaques Flexa for $35m, which will be readjusted when the purchase is ratified.
As part of the deal, a long-term lease contract was signed in regards to the sites location.
The acquisition, subject to Colombian authority approval, will give Alusa a production presence in Colombia, Chile, Peru and Argentina.
A member of the Quiñenco Group, the Luksic Group holding company, Alusa has annual sales of close to $230m.