Exal Corporation Sells Exal Packaging SA to Queruclor Group
Exal Corporation has agreed to sell Exal Packaging SA (Exal’s filling business), in Garin, Argentina to the Queruclor Group, an Argentine manufacturer and supplier of personal and home care products.
The sale reportedly allows Exal to focus resources on its existing can making facilities in North and South America and also on its recent merger announcement with the Ardagh Group to form the new Trivium Packaging joint venture. Exal’s parent, the Ontario Teachers’ Pension Plan will control a 57 percent stake in Trivium. Completion of the Trivium transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2019.
“In light of our recent merger announcement, the sale of Exal Packaging SA, Exal’s only filling business, makes perfect sense as it will allow Trivium to focus on its core metal packaging business. We are pleased to sell the business to Queruclor, a company with a solid reputation in Argentina,” said Michael Mapes, CEO, Exal Corporation.
“A number of years ago, we selected Exal Packaging S.A. as our contract filler for our Personal Care division due to their years of experience in filling personal care products for multinational and local brands, having filled more than 2.5 billion aerosols,” said Walter Lopez, Queruclor president. “With the acquisition of Exal Packaging SA, we will continue operations, providing filling and formulation services, and also maintaining the high manufacturing and quality standards that Exal Packaging has been known for over the years.
“This also provides an opportunity to continue our business relationship with Exal as a can supplier, expanding our market in South America and providing our current and future customers premium filling services, for them to offer the best products in the local and international markets.”
For more information, visit www.exal.com