Tubettificio Favia announces the strategic merger with Perfektüp

Acquisition completed: for Tubettificio Favia, this marks a new season of international consolidation within one of the most important holding companies in packaging industry.

It is official: the Turkish company Perfektüp, one of the most important collapsible tube companies in Europe, acquires a 100% interest in Tubettificio Favia. A decisive turning point, which opens up a new international consolidation for the historic Italian company. Perfektüp is part of Bell Holding group, owned by the Italian Manzini family; starting from Turkey, the group has created a business recognized across all of Europe and beyond in the supply of packaging product and business solutions, with a turnover of over 100 million euros, more than 1,000 employees and 11 production units in Turkey and Europe.

The most important international and multinational FMCG corporations have chosen Bell Holding as their main solution partner for the supply of a variety of packaging materials: aluminium tubes and cans, laminate tubes, plastic bottles and containers, IML tubs and lids as well as caps and closures for various applications: Personal & Home Care, Cosmetics, Oral Care, Stationary, Food and Pharmaceuticals. Bell Holding is currently investing in Italy to expand its footprint. Tubettificio Favia has been chosen for being a centre of excellence in packaging production, and particularly in pharmaceutical packaging.

Favia has, actually, a long experience as a partner of major international pharmaceutical companies, since its foundation, back in 1934. The deep knowledge of the Pharma industry has allowed Favia to anticipate its needs by proposing innovative solutions, such as the aluminium tube with soft nozzle, the digital printing on aluminium tube or the integration between print and mobile app that turns packaging into a 2.0 communication tool.

Through the alliance with Perfektüp, Tubettificio Favia further strengthens its position in pharmaceutical packaging: the Turkish company boasts over 65 years of experience on the European market, which means a constant growth from being a local company to a leader in the production of aluminium tubes, laminate tubes and aerosol cans. Perfektüp owns 3 plants in Turkey, and one more is under construction; in addition, ten years ago the company also opened a production facility in Bulgaria. It has a total of 460 employees and a turnover of almost 50 million euros.

A new path that starts from common value

Tubettificio Favia and Perfektüp share the constant attention to the needs and requirements of their customers, in any reference market (Pharmaceutical, Cosmetics, Food, Oral Care and many others), with a particular focus on Operational Excellence and the compliance criteria required by each industry. The two companies also share the same vision on a topic of primary importance for the packaging world: eco-sustainability.

Tubettificio Favia has been involved for years on this front, in particular through three levels: the membership in Consorzio Cial, a national non-profit consortium that recovers and recycles aluminium packaging; the creation of public awareness campaigns, such as the 8 rules of conscious packaging; the search for innovative solutions such as ToBeNaturAL, the aluminium tube with compostable cap. Perfektüp is committed to apply eco-sustainability principles by favouring recycled or recyclable materials and through virtuous production processes, capable to reduce energy consumption and environmental emissions; like the other companies of Bell Holding, it has signed up to the Ellen McArthur Foundation’s New Plastic Economy Global Commitment , for the application of circular economy principles in Packaging.

As the protagonist of this change, Renato Favia, CEO of Tubettificio Favia, says: “Tubettificio Favia has my family’s name and it will keep it, as a testimony of the journey that started with my grandfather. For me, it was essential to find not a simple investor, but a partner able to share our values and continue along the same path. This research took time and energy, but eventually gave its results. I can say that with the arrival of Perfektüp, a new chapter opens in the book written so far. I am sure this new phase will reserve an interesting development for everyone, inside and outside the company. ”

Livio Manzini, Bell Holding chairman, states: “The integration of Tubettificio Favia into our group has its own clear industrial logic, but it also has a sentimental component as far as I am concerned . My great grandfather emigrated from Italy in the early 1900’s and settled in Turkey, so I represent the third generation of my family that was born abroad. With this investment, I am happy and proud to have been the one to bring this journey to a full circle. I would like to thank Mr. Favia for how he has always defended the name of his company thanks to cautious investments, attention to quality and customer service. This manufacturing plant will become the centre for the further development of our group, not only in Italy but in the European Union: we are aware of our responsibility in making it grow and thereby ensure its continuity.”

“A new chapter of the same book”

The acquisition was followed by MDA Consulting, a business strategy consultancy focused in finance and international development, with headquarters in Milan, Istanbul and Bangkok. MDA Consulting served as financial advisor to Perfektüp and will support this important transition phase in the upcoming months. “Other advisors” RSM Italy Corporate Finance provided financial due diligence services to Perfektüp and Pirola Pennuto Zei & Associati served as legal counsel to Perfektüp. European Group Consulting served as financial advisor and Studio Legale NSP served as legal counsel to the sellers.

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Written by Dominy Jones