With this acquisition, TricorBraun strengthens their European presence and their glass packaging businesses.
Founded in 1994, Vetroelite provides premium glass packaging solutions for the fast-growing spirits, gourmet food, home fragrances, wine, and cosmetics industries. Vetroelite has a worldwide presence, operating from multiple locations across Europe and North America and serving customers in 90 countries.
"We are very pleased to expand our European presence with the acquisition of Vetroelite," said Court Carruthers, president and CEO, TricorBraun. "The Vetroelite team has established a strong reputation for high-quality, innovative packaging solutions, fueled by deep expertise and dedicated customer service. We are proud to welcome Vetroelite to the TricorBraun family, and look forward to supporting Vetroelite’s continued growth."
All Vetroelite team members, including CEO Daniele Feletto and the company’s leadership team, will remain with TricorBraun and continue to work out of the company’s existing locations. Effective with the closing of the transaction, Vetroelite will operate as Vetroelite, a TricorBraun company.
LBO France acquired Vetroelite in 2017 and since then, has provided significant investment and management support, resulting in Vetroelite’s consistent and substantial growth.
The transaction is expected to close later this month and Vetroelite will mark TricorBraun’s fourth acquisition this year. In July, the company had announced the acquisition of SGB, a North American supplier of packaging and accessories for the cosmetics, fragrance, skin, hair and personal care and makeup industries, specializing in prestige and masstige segments.