ACON makes deal to form one of the largest South American packaging firms

Washington-based private equity firm ACON Investments has recently completed the purchase of Intecplast S.A.S. (Bogotá, Columbia), a leading rigid plastic packaging manufacturer focused on personal care, cosmetics and pharmaceuticals, and Pieriplast S.A.C. (Lima, Peru), a supplier of luxury high-end, customized packaging solutions for the direct sales cosmetics industry in the Andean Region.  The plastic companies will be consolidated into a new holding company named Amfora Packaging S.A.S., making it one of the largest pan-Andean region plastic packaging firms. The production facilities in Lima and Bogotá have a total of more than 800 employees.

“The integration of Intecplast and Pieriplast into Amfora forms the leading manufacturer of plastic packaging for cosmetics and personal care products in the Andean region. The Company will be well-positioned to enter new export markets and at the same time capitalize on a fragmented industry in the Region with few competitors able to develop and produce quality products acceptable to multinational customers,” commented José Miguel Knoell, Managing Partner of ACON.

Mr. Jose Alejandro Arango, the CEO of Intecplast, will become Amfora’s CEO and Mr. Renato Pierinelli, founder and former CEO of Pieriplast, will retain an important equity stake in Amfora and will become both the Chief Technical Officer and Chairman of the Board of the Company.

Arango commented, “We are proud to unite our companies. These transactions and the merger of Intecplast and Pieriplast will benefit our customers since we will be the only ‘one-stop shop’ alternative for customers with industry leading service and quality products including a dedicated senior team focused on innovation.”

Pierinelli added, “Based on our clients’ needs and requests we had contemplated expanding into Colombia for the past several years and this merger finally achieves this in the most effective way possible. One of our main objectives is to bring more innovation across our product platforms.”

Intecplast is a leading manufacturer of rigid plastic packaging solutions using injection, blow molding, injection stretch blow molding and injection blow molding and exports to 13 countries regionally.

Pieriplast focuses on high-end packaging solutions for Perú, Colombia, Ecuador, Mexico, and Brazil.