Albéa has acquired 100% of Covit S.L., which is based in Torelló, Spain, at the evry heart of the Catalan “Cosmetic Valley”.
Covit is a global leader in the drawing, anodizing, assembly and decoration of metal parts for packaging products. The company owns an extensive know-how in stamping, anodizing and colour matching as well as years of experience primarily in dispensing systems. Covit was founded in 1979. It employs 200 people and achieved sales of approximately EUR 20 million in 2017.
According to Albéa, this acquisition will provide the group with global metal capabilities and expertise while building a strong, global supplier of metal parts. Actually, metal is a critical asset in the fragrance and cosmetics market where packaging often combines metal and plastic parts and Albéa was already Covit’s main customer.
“With Covit, we are building a metal business with facilities in Torelló (Spain), Waterbury, CT (USA) and Shanghai (China) that will offer a wide range of products and technologies, world-class technical expertise, global reach and a strong commitment to Corporate Social Responsibility” explains François Luscan, Albéa’s President & CEO.
Covit was owned by private equity fund PHI Industrial, which had taken over the company in 2010.