Spain-based Hinojosa Packaging Group has agreed to acquire a 49% share in sustainable packaging company ASV Packaging.
ASV was launched in 2017 and specialises in designing and producing sustainable packaging solutions for the food and beverage industry.
The company operates three production plants in France.
With this acquisition, Hinojosa aims to expand in both the Spanish and French markets.
Hinojosa president Rubén Martínez Hinojosa said: “At Hinojosa we have always been committed to the integration of dynamic and competitive organisations. This is the model that has allowed us to grow and expand both in Spain and on an international scale.”
In France, the company plans to expand its range of packaging solutions and printing technologies for agriculture, agrifood, and recurring consumer products and e-commerce.
The expanded range is set to add individual boxes, as well as fresh food trays and tubs to larger packaging and promotional displays.
In addition, Hinojosa and ASV Packaging will collaborate in replacing plastic packaging with sustainable alternatives in fresh products that are packaged in modified atmosphere packaging and vacuum skin packaging.
Martínez Hinojosa added: “With the acquisition of ASV Packaging, we will have the opportunity to expand our offering of sustainable packaging solutions in the French market. Without doubt, this is an important and exciting milestone and at both companies we share the same values based on innovation, sustainability and customer proximity. We look forward to working alongside 210 employees at ASV Packaging, so that together we can continue to add value for our customers.”
