Schütz GmbH & Co. KGaA from Selters has acquired the Mexican industrial packaging manufacturer Envases y Laminados S.A. de C.V. (ELSA). The closing for the acquisition of 100 per cent of the company's shares is expected to take place at the beginning of 2018, Schütz announced. Approval from the Mexican antitrust authority COFECE is still pending.
With this acquisition, the German manufacturer of Transport packaging the leading supplier in its market segment in Mexico. ELSA has been working with Schütz for 20 years on the basis of licence agreements for the manufacture and sale of intermediate bulk containers (IBCs) and Plastic drums together with Schütz.
Growth prospects in view
Until now, ELSA has been managed by sole managing director and owner Carlos Mata. „I am very happy to pass on my company to Schütz,“ he is quoted as saying in a press release. The takeover will „enable ELSA to develop strongly in the coming years.“
„ELSA is a very well-established company and Mexico offers interesting growth prospects for our industry, as our customers recognise Mexico as an integral part of the NAFTA-region,“ comments Roland Strassburger, CEO of the Schütz Group, on the company acquisition.
