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Guala Closures acquires Labrenta
Guala Closures has further cemented its position in the luxury drinks sector through acquiring Italian company Labrenta, known for its high-end closures.
In an important strategic step for the company, Guala Closures has acquired €30 million business Labrenta, it was announced today.
Guala – a global producer of closures for wines, spirits, beverages and oil bottles – announced it has reached an agreement to acquire Labrenta, which specialises in high-end tailor-made closures.
Founded in 1971 by Enzo Tagliapietra in Breganze, Vicenza, Labrenta initially produced natural cork for the Italian wine market, but has since expanded to launch product lines of natural and synthetic blends, with 30 patents. With plants in Italy, Brazil and Mexico, Labrenta is expected to achieve more than €30 million in revenues across its 800 customers in 70 countries during 2022.
New owner Guala Closures, which employs more than 4,850 people across 30 production sites, listed around €710 million sales as of 31 March, 2022.
The acquisition is expected to enable Guala to grab a bigger slice of the fast-growing luxury sector.
“Labrenta is an excellent and innovative company, with a strong local presence, an important know-how, a well-organised team and a management with a long-term strategic vision,” said Gabriele Del Torchio, president and CEO of Guala Closures.
“The acquisition represents an important opportunity for our Group. The deal will contribute to the achievement of the goals set in our strategic plan as well as to further strengthen our already significant presence in the luxury segment. The plant in Breganze will become an important centre for research, development and production of luxury closures.”
Gianni Tagliapietra, CEO of Labrenta, said: “Passion for design and technology, production quality and sustainability are among Labrenta’s core values. In the past years, we have realised how important is for entrepreneurs to be able to respond promptly and effectively to a fast-changing environment. We have found in Guala Closures a group of like-minded people that share our same values, as well as a global leader in the sector that will allow Labrenta to keep pursuing high growth in a well-structured manner.”
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