Guala boosts Eastern Europe presence with Danik takeover

By Rory Harrington

- Last updated on GMT

Related tags Russia

Guala Closures Group has said its takeover of Bulgarian company Danik had been carried out as part of its expansion strategy in Central and Eastern Europe (CEE).

The Italy-based company, which produces non-refillable closure for the international spirits sector, said the acquisition of Danik was completed in May. No financial details were disclosed.

The Bulgarian outfit, which manufactures non-refillable inserts, closures and injection moulds for the wine, vodka and brandy segments, has an annual turnover approaching €16m and employs around 200 staff.

A Guala spokeswoman told that it was unlikely that it would need to pump new investment into Danik as the plant and machinery were modern and efficient. While the deal would result in the company rationalising some product lines in Europe, no plant closures were foreseen. No further takeovers had been earmarked for Eastern Europe in the near future, she added.

CEE expansion

The Danik acquisition follows the purchase in 2009 of Technologia Closures, in Ukraine, which Guala described as one of the “leading producers in Eastern Europe of polymer and aluminium closures”.​ The business, renamed Guala Closures Ukraine, is located in Sumy on the Russian border. Guala said its strategic position provides good access to the Russian and other Eastern European markets.

Guala Closures Group CEO, Marco Giovannini said: "Following our acquisition of Technologia in Ukraine last year, the strategic acquisition of Danik will allow us to further strengthen our ability to supply in the most efficient way our Eastern European customers in countries such as Russia and Armenia, as well as the growing spirits market in Mongolia."

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