Pusterla 1880 consolidates its position in the UK luxury market and strengthens its premium rigid boxes offer.

Pusterla 1880 finalized the acquisition of Leicester-based luxury packaging manufacturer Pollard Boxes, which marked its 50th anniversary in 2019. Pollard Boxes is the largest producer of rigid boxes in the UK and among Europe’s top manufacturers, specializing in the design and production of innovative packs for the luxury drinks, beauty, personal care and games segments.

This acquisition will allow Pusterla 1880 to enlarge its design, development and production resources in the UK market and better meet the increasing demand for quality and customised services. Pollard Boxes will strengthen Pusterla 1880 presence in the UK, by adding strategically located plant and completing the group footprint in the country.

Roberto Marini, CEO and Luca Meana, CFO of Pusterla 1880 comment: “This important acquisition confirms our ambition for the UK market and reinforces our overall positioning in Europe. Pollard Boxes is renowned for its technical excellence and longstanding client relationships and we look forward to working with Mark Pollard and the team.”

Mark Pollard, Managing Director of Pollard Boxes comment: “Pusterla 1880 combines agile technological innovation with the client-centric approach and the heritage typical of a family- owned business. Becoming part of Pusterla 1880 offers additional opportunities for Pollard Boxes  clients and employees. We look forward to contributing to the development of the group.”

Earlier this year, Pusterla 1880 reinforced its portfolio with the acquisition of Adine group in France and announced the partnership with minority investor Andera Partners.

Pusterla 1880 becomes the first company in the packaging sector in Europe to issue a Euro PP in the Sustainability-Linked Bond format. This issuance also positions Pusterla 1880 as a pioneer in the mid-market segment in Italy.

Pusterla 1880 becomes the first company in its sector to issue senior bonds Sustainability-Linked. This 25 M € issuance of Sustainability-Linked Euro PP (ISIN code: IT0005436677) further strengthens the financial structure of Pusterla 1880 and supports its external growth strategy. These securities listed on Euronext Access are characterized by a coupon that will be adjusted according to the level of key ESG performance indicators agreed with the investors.

Roberto Marini, CEO and Luca Meana, CFO (and Chairman of the Board of Directors) of Pusterla 1880 comment: “This financing consolidates the sustainable development strategy of Pusterla 1880. Over the years we strengthened our approach to sustainability, with the launch of several solutions offering reduced environmental impact. Pusterla 1880 set itself annual sustainability targets, which are verified by extra-financial and CSR advisory agencies. We have chosen to take a further step forward and to link a significant portion of our debt financing to those sustainabilty targets in which Pusterla 1880 strongly believes.”

Pierre-Yves Poirier and Antoine Le Bourgeois, Partner at Andera Partners, comment: “Andera MidCap is very proud to support this Sustainability-Linked Bond issuance. We are convinced that the positive impact that we are seeking for our entire ecosystem must now be measured in terms of extra-financial and CSR criteria. As financial investors, we are play a responsible investor in the fight against climate change and we support the companies we invest in in their proactive ESG approach, in particular towards the gradual reduction of greenhouse gas emissions. As a management company, Andera Partners has also obtained the CO2-neutral® label.”

Pusterla 1880 continues to grow and strengthen its footprint in France to consolidate its presence in the luxury market, thanks to an increasingly complete and tailor-made offer.

The Pusterla 1880 group finalized the acquisition contract for the Adine Group, including Adine (manufacturer of boxes since 1806), Chiffoleau (printer since 1947), and Thermoform (plastic thermoforming since 2008).

The two companies will thus share and pool know-how, favored by the proximity of production sites and which dates back over a century of activity.

This acquisition will also allow the group to increase the capacity and complementarity of the development and production resources, and thus significantly improve the flexibility to even better meet the growing demand for agility from customers.

Eco-design is a major concern of both Adine and Pusterla 1880. This will therefore be able to pool the research and offer innovative solutions to customers.

With a minority growth capital operation Pusterla 1880 open its capital to Winch Capital 4 fund, managed by the Andera MidCap team, to support its growth strategy in Europe.

Under the leadership of the CEO Roberto Marini and the CFO Luca Meana (also Chairman of the Board of Directors), Pusterla 1880 has rapidly grown over the years, thanks to a combination of organic growth and strategic acquisitions (7 since 2000) and today employs more than 1,000 people in Italy, France, UK, Moldova and Tunisia.

The new partnership between Andera Partners and Pusterla 1880 will accelerate the growth of the group, particularly in Europe, where the management team and Andera Partners are already considering a large pipeline of potential acquisitions.

Pierre-Yves Poirier and Antoine Le Bourgeois, Partners at Andera Partners, comment: “Andera MidCap is extremely proud to partner with Roberto Marini, Luca Meana and their teams. Strongly impressed by the management of the group and its track-record, our common objective is now to strengthen its leadership position in the European market, and accelerate its growth through the pursue of new development opportunities and M&A in Europe.”

Roberto Marini, CEO and Luca Meana, CFO (and Chairman of the Board of Directors) of Pusterla 1880 comment: “Highly qualified employees, recognized multi-technical know-how and an industrial footprint allowing geographic proximity to our customers represent the foundations of Pusterla 1880 success and strong relationships with our customers. Over the years, we strengthened our approach to sustainability, with the launch of several solutions offering reduced environmental impact. We are proud of the position we have built, both through organic growth and targeted acquisitions in Europe. Since our first discussions with the Andera Midcap team, we have built a relationship of understanding and mutual trust and we have found in Andera Midcap the right partner to support our ambitious growth plan.”

Yesterday 5 December 2019 the press conference was held to present the projet: “PARMA the city of PERFUME”, an event designed to rediscover Parma as a more open, modern and contemporary city through a story that began in 1816 and which continues to the present day, projecting itself towards the future.

Pusterla 1880 thanks to Cavalieri & Amoretti has the opportunity to participate as a partner in the realization of this event which aims to tell two hundred years of professionalism and entrepreneurial competence that have made the city of Parma an important center that revolves around the world of international perfumery, creating a chain of companies producing fragrances, but also specialized in glassware, printing, paper converting and packaging.

A complete supply chain that makes our territory unique in Italy.

On the one hand CNA Parma, an association that focuses on the know-how, work and creativity of craftsmen and on the other Mouillettes & Co that created the project. Mouillettes & Co is a unique reality in Italy that develops training and consulting paths related to the world of smell, to which we owe the creative spark that led to the birth of “PARMA the city of PERFUME.” From this meeting, in collaboration with all the partners and through the story and the images of the protagonists of this chain, this project is born that will develop into two distinct exhibition itineraries: at the Museo Glauco Lombardi (7 December 2019 – 22 March 2020) where the perfumery chain will be highlighted by a historical point of view and then at the APE Parma Museum (1 April 2020 – 30 June 2020) where innovation and modernity of the supply chain will be highlighted.

The rediscovery of the historical identity of the perfumery will be developed in different activities: the guided tours that will start from 8 December 2019 until 30 June 2020 during the weekends inside the two museums, the olfactory routes in the historic center capable of enhancing and rediscovering the places that are the repositories of this heritage such as the botanical garden, the Old Pharmacy San Filippo Neri and the historic perfumeries. The energy, born around this chain, will also create a series of collateral initiatives connected to the exhibitions themselves: olfactory workshops, themed conferences and the possibility of visiting the productions of the companies in the supply chain, a unique and exclusive opportunity to “dive” and discover all that lies behind a “simple” perfume bottle.

Parma, capital of Culture 2020, reaffirms its being also the Capital of Perfume in Italy.

Pusterla 1880 Group has defined the agreement for the acquisition of Cavalieri & Amoretti (C&A) and its subsidiaries.

The founding partner of C&A Gianluca Cavalieri will remain with a minority stake and will collaborate with the Group for the integration of the two entities and as a strategic partner for future development.

With this operation, Pusterla 1880 Group further expands its offer, integrating a unique know-how and production capacity in the secondary packaging scenario: luxury round boxes.

This acquisition fits perfectly into Pusterla 1880’s strategy of consolidating the market by gathering the leaders of specific areas of luxury secondary packaging, under a single commercial, industrial and logistics coordination, with the aim of being able to offer its customers complex and tailored solutions, both in terms of product and service.

The Group’s turnover, made 100% in the world of luxury, aims at € 140 million in 2019 thanks only to the combination of the two entities and aims to strengthen organic growth for the future thanks to:

  • The uniqueness of the industrial configuration able to offer the solution best for every customer need, combining the specific know-how of its specialists;
  • The completeness of the offer in the presentation of luxury packaging: from the carton box to the multi-material caskets, passing obviously for fully manufactured round box.
  • The possibility of offering the best technical and supply chain solutions to help our customers in choosing the best secondary packaging and POS for their needs;
  • Being able to face the future more forcefully and share new challenges such as eco-sustainability and digital innovation.

Declarations:

Roberto Marini: “With Cavalieri & Amoretti a unique savoir-faire enters our family in the high-end cardboard packaging panorama, which completes the offer of products and services available to our customers. From the industrial point of view, the integration between our companies will allow us to accelerate and make our growth more efficient, while knowledge sharing will increase our ability to offer our customers solutions that are always adapted to their needs.

I thank Gianluca, Rita and Massimo for having chosen Pusterla as a partner to whom to entrust the future of the company they created. ”

Gianluca Cavalieri: “I am delighted to have succeeded in crowning an old dream of ours, that of being able to be part of the Pusterla group, for all of us the only true Italian and international reference in the field of luxury packaging.

We believe can make an important specialization contribution to the Pusterla Group with our luxury focussed offering.

We have shared with Roberto, Luca and all the staff every single future project, giv-ing rise to a marriage of ideas that actually existed, in the intentions, from the begin-ning.

The entire Cavalieri & Amoretti group is excited to face the future within the Pusterla Group with which to share new market challenges ”