TUNISIA – Aluflexpack AG, a European manufacturer of flexible packaging solutions, has announced its plans to acquire a 68% stake in Helioflex, a leading pharmaceutical packaging company in Tunisia.
The acquisition of Helioflex, subject to regulatory approvals, represents another milestone in the Group’s internationalization strategy. It also expands the Group’s presence in the lucrative pharmaceutical market and in geographically growing markets.
Helioflex reported net sales of approximately €6.1 million in 2022. The company operates a manufacturing facility in Jbel el Oust, near Tunis, and employs approximately 40 people.
It specializes in producing blister foil, cold form foil, and sachets for pharmaceutical customers in Northern Africa, Europe, and the rest of Africa.
Johannes Steurer, CEO of Aluflexpack, said, “With the acquisition of Helioflex, we are expanding our manufacturing presence in the rapidly growing African market.
“The company not only holds a prominent position in the domestic Tunisian blister foil and cold form packaging market but is also strategically positioned to cater to other markets in Africa.
“We are confident that the combination of Aluflexpack’s technologically advanced platform and Helioflex’s strong market position in Northern Africa will create future growth opportunities.”
The acquisition will enable Aluflexpack to enter the fast-growing African market and leverage Helioflex’s strong market position in Northern Africa.
The combination of Aluflexpack’s advanced technology platform and Helioflex’s market expertise is expected to create future growth opportunities.
The management team of Helioflex will continue to be invested in the company. The completion of the transaction is subject to regulatory approvals and is expected to be finalized by the first quarter of 2024. The financial details of the acquisition have not been disclosed.
Aluflexpack recorded solid net sales growth in H1
This acquisition comes two months after Aluflexpack announced solid net sales growth in the first half of 2023 (H1 2023).
Net sales increased by 15.8% to €190.8 million (US$200.58m) compared with H1 2022: €164.8 million (US$173.25m), of which 12.3% are organic.
During the first half of 2023, EBITDA before special effects (SE) increased to €24.8 million (US$26.07m), corresponding to a margin of 12.7% (compared to H1 2022: €24.3 million (US$25.55m) and 14.7%, respectively).
This decrease in the relative EBITDA margin is primarily due to the dilutive impact of increased cost positions reflected in the Group’s net sales, as well as negative materials phasing effects.
However, the margin achieved in H1 2023 represents an increase over the H2 2022 margin of 11.6%, owing to progress made in passing on increased costs.
