Guala Closures enters the crown closures market

The company has signed an agreement to acquire Astir, a leading manufacturer in the sector

Guala Closures to further consolidate its presence in glass bottles by entering the crown closures sector, strengthening its market position in mineral water and non-alcoholic beverages and expanding into the beer market. The company, infact, has announced the acquisition of Astir Vitogiannis Bros S.A that produces over 12 billion crown closures annually and in the year ended 2023 generated a turnover of €75 million and an EBITDA of €19 million.

Established in 1953, Astir has two production plants in Greece and South Africa and a strong international presence. Its blue-chip clients include major international producers in both the beer and non-alcoholic beverage industries. Stelios Vitogiannis, CEO of Astir (and the founder’s grandson) will remain as CEO of the business. He will reinvest in Guala Closures and report to Guala Closures' CEO Mauro Caneschi.

Once completed, the acquisition of Astir will enable the Group to expand its presence in emerging markets characterised by demographic growth and increasing per capita consumption, and to provide closures for the attractive ready-to-drink and non-alcoholic beverage segments.