Vision Capital has acquired a substantial majority stake in Bormioli Rocco, the international glass and plastic packaging manufacturer, within a portfolio of investments from Banco Popolare, Italy’s fourth largest retail bank.
Bormioli Rocco produces glassware and packaging containers for home and professional use. Founded in 1825, its retail glassware has become an internationally recognised brand. It is also one of the leading wholesale suppliers of glass and plastic packaging to the global pharmaceutical, perfumery, cosmetic and food industries. In 2010, Bormioli Rocco generated sales of 531 million euros and EBITDA of 85 million euros.
“Bormioli has strong businesses in a sector we know well, and will have the chance to build on its long and proud heritage,” said Julian Mash, Chief Executive of Vision Capital.
Upon completion of the transaction, Vision Capital will appoint Paolo Antonietti as Chairman of Bormioli Rocco. Mr Antonietti has 25 years experience in senior management at multinational corporations such as Nestle or Rieter and Sulzer and has held a number of senior board positions at private equity owned companies in recent years, including Sympak and Targetti Poulsen.
