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Italmobiliare completes its enhancement of Sirap Group's Assets

The deal represents the exit from the food packaging sector

Italmobiliare’s subsidiary Sirap Gema Spa finalised its sale of Sirap France to the Italian Gruppo Happy, thereby completing the exit plan from packaging activities in the food sector. The process, which started in January 2021 with the sale of assets in Italy, Poland and Spain, continued with the sale of Petruzalek (February 2021) and Sirap UK (November 2021). The latest disposals in France and UK confirm the enhancement of the Sirap Group within Italmobiliare's NAV at June 30, 2021, which was equal to approximately 85 million euro. 

The liquidity generated by these sales has been added to Italmobiliare's cash resources, ready to be allocated to future investments according to the holding company's diversification strategy. Italmobiliare is an investment holding company that manages a diversified portfolio of investments with a Net Asset Value of more than 2 billion euro. Since 2017, it has consolidated its strategy of investing in companies with major innovative "Made in Italy" brands, supporting significant rates of growth with its know-how and models of development and governance.

Sirap Gema, founded in Verolanuova (Brescia) in 1960, one of the main producers of packaging for fresh food products, was 100% controlled by Italmobiliare since 1990.

Happy is an Italian group specialized in the production and marketing of food containers.

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EFA News - European Food Agency