Lumson will acquire Marino Belotti Srl (“Belotti”), an Italian packaging company with sales of more than $15 million. A purchase price was not disclosed. Belotti is active in the production of premium makeup packaging solutions—especially in the powder sector, and is very well known for its creativity and technical abilities, according to Lumson. This is Lumson’s first acquisition since FSI took a 35% stake in the company more than a year ago. This acquisition is part of a wider growth strategy, shared by the Moretti family and FSI, that will allow the group to rapidly increase its market share in Italy and abroad, jointly strengthening leadership and geographical presence.
The closing is expected by the end of September. The agreement foresees, among others, that Maria Teresa Belotti and Alfredo Gavazzeni (exiting shareholders of Marino Belotti) will reinvest part of their proceeds into Lumson’s industrial plan. Additionally, they will maintain their positions in the board of directors of Marino Belotti Srl as well as the operational responsibility for the "compact" division of Lumson Group. Lumson Group's growth keeps continuing after the acquisition of Leoplast Srl, the leading Italian player in the production of lipsticks packaging.
“Marino Belotti is an historical company of our sector," said Lumson President Matteo Moretti. "With Maria Teresa and Alfredo we share the passion of our job and the orientation towards quality and innovation. I’m sure that this combination will enable Lumson to strengthen its positioning both in the European and American markets, where we are currently seeing the results of the hard work done over the past years.”
“Lumson represents the ideal industrial partner for Marino Belotti in order to continue its growth. We are enthusiastic about the project and happy to be part of it," said Marino Belotti CEO Maria Teresa Belotti, who will keep managing the company after the transaction, commented: