Altopack acquires all shares of GammaPack

Altopack (Altopascio, Tuscany) has completed the acquisition of all the shares of GammaPack, a Romagna-based company specialising in the production of vertical and horizontal cartoning machines, building on a successful partnership that has been in place for several years.

The operation is part of Altopack’s expansion strategy in sectors where it can offer its packaging solutions and will allow it to provide an effective and professional response to the growing demands of this market segment.

The complementary machinery portfolio and partial diversity of the customer base has already brought benefits for both companies. GammaPack has reported 50% growth in sales, enabling Altopack to set its sights on a year-end target of €20 million revenue. Founded in 1989, GammaPack has sold around 600 plants, which join the 1,600 sold by Altopack in more than 40 countries worldwide.

“We have always pursued growth through technological research and development of new devices, and this is our first acquisition,” said Giuseppe Vezzani, Chairman of Altopack. “Starting out with a company with which we have enjoyed a long-term partnership enables us to achieve risk-free growth.” The agreement was also approved by Lorio Cavina, founder of GammaPack. “When we began exploring potential interest in our company, we were delighted when Altopack got in ahead of other players. We have always enjoyed an excellent partnership with them and are certain that they will be able to promote and carry on our brand values in the best possible way.”