One week after the announcement of the sale of Axilone, Oaktree is continuing to divest the assets of the Ileos group with the sale of Alliora Coffrets to the Italian group Gpack. The two companies have signed an exclusivity agreement to that end.
According to the equity firm, this acquisition project is part of the development strategy of the Gpack group, which wants to develop its packaging activities in the luxury market, in particular on the French market.
With this acquisition, Gpack would double its set-up boxes business and become a leader in this sector in Europe. The Gpack group, formerly named Cartotecnica Goldprint, is specializing in the production of luxury packaging for the cosmetic and perfumery businesses. It recently entered other markets such as food packaging, pharmaceutical packaging and display. With a total turnover of about 70 million euros, of which 50% generated in the luxury market, Gpack operates 7 plants in Europe employing about 400 employees.
The transaction is subject to consultation with the employee representative bodies in France as well as the usual closing conditions and regulatory examinations.