Norwegian group Polimoon has acquired a 70 per cent stake in Polish premium packaging manufacturer PPH Lima-Pol. Polimoon will acquire the remaining 30 per cent of the shares from previous owner Tadeusz Jobda over the next three years.
Now known as Lima-Pol Polimoon, the company has about 200 employees, annual sales in excess of €13M and an operating profit of over 10 per cent. It has grown by over 20 per cent annually in recent years, due to strong demand for personal care packaging from international blue chip companies that have invested heavily in filling operations in Eastern Europe and Russia. Until recently these customers have lacked a local supplier for premium packaging.
Particularly focused on packaging for cosmetics, Lima-Pol manufactures cream jars and personal care bottles for customers in Poland, Russia and other European countries, including L'Oreal, Alberto Culver and Avon.
The enlarged Polimoon Group will have combined revenues of €325M, 2,250 employees, and operations in 12 European countries.
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