The financial terms of the transaction were not made public. Credit: Yasuhiro Kojima/commons.wikimedia.org.

Japanese corrugated and paperboard manufacturer Rengo has announced that its consolidated subsidiary Tri-Wall has acquired a 100% stake in Gestora Comercial Internacional (Gecoinsa).

The companies have not disclosed the financial details and other terms of this transaction.

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Based in Spain, Gecoinsa specialises in manufacturing heavy-duty packaging materials such as corrugated packaging and wood packaging and pallets.

It also provides warehouse management support and logistical services.

Aside from its main domestic market, Gecoinsa also has a business presence in Portugal and Morocco.

In financial year 2022, it registered net sales of approximately €22.4m.

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Headquartered in Osaka, Rengo specialises in the production and sale of a wide range of packaging solutions such as corrugated boards and boxes and other paper-based products.

The company addresses both domestic and overseas packaging demands, mainly in the China and Southeast Asia regions.

It currently holds six business divisions, namely Corrugated Packaging, Folding Carton, Flexible Packaging, Heavy Duty Packaging, Overseas Business, and Paperboard.

One of Rengo’s overseas subsidiaries is Tri-Wall Group, with operations across Asia, Europe, and North America.

Tri-Wall has been working to develop its parent company’s Heavy Duty Packaging segment across the globe.

With the addition of Gecoinsa to its portfolio, Rengo now aims to further expand its network to the Iberian Peninsula and Moroccan regions.

The company said it will continue to focus on strengthening its existing supply system to address the service requirements of its customers.

In October 2011, Rengo announced the full acquisition of Guangdong Packaging, a manufacturer of corrugated packaging and folding cartons in China.