STOROPACK ACQUIRES LONG-TERM TRADE PARTNER ALTERNATIVE 1999 S.R.L.

STRENGTHENED PRESENCE IN THE ITALIAN MARKET

Metzingen. Effective on January 1, 2015, Storopack, specialist in protective packaging, acquired 100 percent of the shares of an Italian company Alternative 1999 s.r.l. Alternative was founded in 1999 in Italy. From the beginning; Alternative was trade partner for the distribution of PAPERplus® paper padding, AIRplus® air cushions, and FOAMplus® foam packaging systems since 2008. With the acquisition, Storopack now has its own subsidiary in the Italian market, thereby improving access to local customers with its protective packaging solutions. Over the next few weeks, the company name will also be changed to Storopack Italia s.r.l. as part of the integration.

The company’s offices and service center are located in Cento, near Bologna. In 2014, Alternative achieved total sales of close to six million euros. And this year, Storopack expects to further increase in sales.

Company founder - Andrea Salustro has successfully managed the company since 1999. Andrea will assist Storopack during the company’s integration into the corporate group and will continue to be responsible for activities in Italy.

“The main objective of the acquisition is to increase the market share of our AIRplus®, PAPERplus® and FOAMplus® protective packaging solutions,” explains Birger Johnsen, President of Storopack’s EMEA Packaging Division. “The strengthened presence, along with our well-established sales team, creates the platform for higher growth potential, stronger market positioning as a supplier of protective packaging and system solutions in the Italian market.