FLO SpA and DOpla SpA signed an agreement on 2 September 2019 for the reorganization of their respective Groups.
By virtue of the agreement, DOpla acquires control of Eurovending Group, which includes Nupik and Sky Paper, leading Spanish companies in Europe (with direct presences in France, UK and Portugal) in tableware and food service sectors and of Art Plast, an entity operating from Poland for the distribution (to local businesses and distribution chains) of the same products in Central Eastern Europe.
FLO acquires control of ISAP-Packaging, a historical company based in Verona and leader in Italy in the production of disposable tableware and food packaging, which also includes I&D in Catania, and of F Bender, a Welsh (UK) company active in the production of paper and cardboard tableware (mainly paper cups) and accessories (napkins)
DOpla SpA and FLO SpA maintain 50%-50% control of FTT, a start-up innovating in the development of plants and machinery for mass production of cellulose pulp products plus minority interests where the other has acquired control.
This reorganization allows DOpla SpA and FLO SpA greater strategic effectiveness in the governance of their respective businesses on an international level and to pursue operative efficiencies in key functions to confront a situation that requires profound transformation by market players. This is brought on by the production and commercialization limitations on certain disposable plastic products introduced through the EU “Single Use Plastics” (“SUP”) directive effective from 2021.
“Thanks to this agreement with FLO – asserts Dr. Carlo Levada, CEO of DOpla SpA - we maintain the substantial complementarity of our respective business portfolios while strengthening the new position of DOpla Group as Europe’s leading industrial operator, having generated a turnover of over 200 million euros in 2018 with a staff of over 650 people.”
“With DOpla – confirms Ing. Daniele Simonazzi, CEO of Flo SpA, we have a strong history of collaboration and success which has led us to this shared decision to focus our expertise and maximize the impact of our investments. The new Flo Group generated revenues of approximately 220 million euros in 2018 with a staff of 740 people and over 14 million euros investments in the latest generation of machinery for the production of paper, bioplastic and cellulose pulp containers.”
At FLO, thanks to the recognized know-how of the excellent R&D team in the production of thermoform tableware and food packaging, and in the presence of two cutting-edge application laboratories at the Verona and Fontanellato sites, we are developing a new generation of packaging to solve the problems associated with the end-of-life treatment of these products.
“The uncertainties surrounding the marketplace following the SUP and the fierce media storm which accompanied it over the past year and more does not discourage us – according to Daniele Simonazzi – on the contrary, it serves to drive us towards a path of innovation and research into new materials and the development of sustainable packaging.”
DOpla Group has invested over 20 million euros in 2018 and 2019 in Italy and across Europe, with plans for further investments over the 3-year period from 2019 to 2021 to equip itself with the best available technologies to produce tableware and food packaging in cellulose pulp, paper and bio-polymer, in addition to reusable products in traditional plastic.
“DOpla Group – concludes Carlo Levada - is strongly determined to pursue continued development, relying on the cohesion of our human capital, the continued support of our partners (suppliers of raw materials, components, technology and capital), and the renewed preference granted to us by our clients in Italy and everywhere in Europe as they represent the key enablers to consolidate our success and to ensure its future sustainability.”
Throughout the negotiations and in the closing of the transaction, FLO was assisted by AGFM with a team led by Partner Alberto Guiotto as Financial Advisors and by Gianni Origoni Cappelli & Partners with a team led by Partner Paolo Brugnera as Legal Advisors.
DOpla was assisted by Finint Corporate Advisors (Finint Bank Group) with a team coordinated by Francesco Lorenzoni as Financial Advisors and by Orrick with a team led by Partner Marco Dell’Antonia as Legal Advisors.
DOpla SpA is an Italian family business based in Casale sul Sile (Treviso) operating in the production and commercialization, in Italy and abroad, of products made of plastic and alternative materials and, in specific, of tableware and food packaging.
DOpla Group has production sites in Casale sul Sile (Treviso), Manfredonia (Foggia, Italy), Sušice (Czech Republic) and Polinyà (Barcelona, Spain)
FLO SpA is an Italian family business based in Fontanellato (Parma) operating in the production and commercialization, in Italy and abroad, of products made of plastic and alternative materials and, in specific, of disposable vending cups.
FLO Group has production sites in Fontanellato (Parma), Verona, Catania, Ruiz (France) and Wrexham (Wales, UK)