Italian company Cartonpack Group, a provider of multimaterial food packaging solutions, has completed the acquisition of a majority stake in FIMAT, a producer of cardboard packaging for the food industry.

The deal aims to enhance Cartonpack's fibre-based packaging offerings and strengthen its industrial presence in Northern Italy, as well as in the French and German markets.

Located in Boffalora sopra Ticino, Italy, FIMAT will continue to operate under the leadership of the Fornaroli family, ensuring the maintenance of its high product quality and service standards.

The acquisition is part of Cartonpack Group's broader strategy to consolidate its position in the European food packaging market, a plan that has been in motion since 2020 and has led to a projected 2024 pro forma turnover of €200m ($209m).

By combining their manufacturing and commercial capabilities with deep technical knowledge, the companies are poised to offer innovative packaging solutions, particularly for the fruit and vegetable sector.

These efforts are anticipated to meet the dynamic needs of the market with both consistency and efficiency.

Cartonpack utilises recycled and recyclable materials to promote a more sustainable future.

Last month, it acquired Clifton Packaging Group, a UK-based provider of flexible food packaging solutions.