Shortly after its expansion in India and Brazil, Tecnocap has completed a decisive transaction for its growth strategy by acquiring ReefCap, a Saudi Arabian leader in the production and marketing of Metal Closures for glass jars.
In addition to its production plant and sales office in Jeddah, home to the second largest commercial port in the Middle East, ReefCap also has a distribution center and an established sales network in the United Arab Emirates, Oman and Egypt. ReefCap’s “Twist” metal closures are already well known and used by major players in the food industry in both the Middle East and Africa.
This transaction, which includes the participation of the current Saudi owners with a minority stake, marks the Tecnocap Group’s definitive entry into the Middle East market.
“The acquisition of ReefCap represents another milestone in our overall growth strategy, achieved through business diversification and expansion into fast-growing markets,” said Michelangelo Morlicchio, founder and CEO of Tecnocap, who added: “In addition to securing a strong presence and significant production capacity, this transaction will allow us to strategically leverage commercial opportunities connected to the government program, such as the futuristic Neom City and the Saudi edition of Expo 2030, moving forward through coastal development in the Red Sea.”
Tecnocap’s ambitious industrial strategy is driven by expanding the business in promising regions and broadening the range of packaging solutions available for consumer brands. By focusing on these areas, the Group is finalizing further acquisitions and aims to consolidate its position as a multinational leader in integrated packaging, maximizing technological, industrial and commercial synergies.
Tecnocap
The Tecnocap Group is a global packaging manufacturer, specialized in the industrial production of Closure Systems for glass bottles and plastic containers, Aluminum Bottles and Aerosols, Self-Adhesive Labels and Flexible Packaging, with more than 80% of its revenues generated abroad between Europe and North America. The Group expects to achieve consolidated revenues in excess of 300 million euros this year through 11 production sites located in Europe, North America, India and Brazil, three R&D centers, a worldwide technical support network and more than 1,100 employees.
