Schütz GmbH & Co., a German manufacturer of packaging systems, announced it has signed a purchase agreement for 100% of the shares of Envases y Laminados, S.A. de C.V. (ELSA), a leading supplier of rigid industrial packaging in Mexico.
Closing is expected to take place in early 2018, subject to the pending approval of the Mexican antitrust commission COFECE. The financial terms of the deal remain undisclosed.
Founded in 1960, ELSA produces steel drums, plastic drums, IBCs, fiber drums as well as other plastic packaging. Since 1997 ELSA has been co-operating with Schütz under licence agreements for the production and sale of IBCs and plastic drums.
In 1996 the company obtained ISO 9001: 1994 certification as the first Mexican manufacturer of industrial containers. In 2012 the company received FSSC 22000 certification for the production of polyethylene drums and IBCs. The company offers the widest range of industrial containers in Mexico operating six manufacturing plants throughout the country.
Roland Strassburger, CEO of the Schütz group, stated: “We are excited about this unique opportunity to be present in Mexico with a fully owned subsidiary. ELSA is well established and Mexico offers interesting growth perspectives for our industry as our customers perceive Mexico to be an integral part of the NAFTA region. In addition, we feel very much honored being entrusted by Carlos Mata with leading his company, which he has built up to be the market leader in Mexico over the last decades, into the future.”
Carlos Mata, sole manager and owner of ELSA who is going to retire, declared: “I am extremely pleased to pass my company on to Schütz, a family-owned business like ELSA, which stands for high-quality products and services world-wide, a long-term business approach and solid financials enabling a strong further development of ELSA in the years to come.”