French Cosfibel, one of the leading European manufacturers in the packaging and promotional products industry, is to be acquired by GPA Global, a group based in Shenzhen, China and Seattle, USA, with 3,000 employees.
Based in Levallois-Perret, Cosfibel, founded in 2001 by Alain Chevassus, has a turnover of around 83 million euros and 200 employees. It has 21 offices worldwide, three multi-material design studios and four cardboard and PET packaging plants located in Spain, Portugal and Belgium. L'Oréal, Chanel, LancÃ'me, LVMH, La Durée, Dammanâeuros¦ Cosfibel can boast of working for more than 70 international brands in the beauty, personal care, wine & spirits and gourmet food sectors.
Marie Sermadiras, at the head of Cosfibel since January 2022 the company is joining the general management of GPA to contribute to the expansion of the American-Chinese group in Europe.
For GPA Global, which arrived on the Old Continent in March 2022 with the acquisition of the Polish packaging manufacturer ASG, this external growth will enable the group, which is mainly present in the United States and Asia, to become more firmly established in Europe. This reinforced presence is "essential to GPA's strategy of helping its customers shorten supply chains to speed time to market, reduce materials sourcing risk and reduce carbon emissions." he explains.
The American packaging group has the distinction, since September 2022, of having as its principal shareholder, Ontario Teachers', which invests on behalf of the Ontario Teachers' Pension Plan (Teachers').
Raju Ruparelia, Senior Managing Director of Asia Pacific Investments at Ontario Teachers', said: "We are impressed with Cosfibel's design capabilities and strong reputation in its key markets and business segments. This association with GPA will contribute to the development of Cosfibel's well-established European customer network as part of GPA's international platform."
