Sarantis Group finalized on 17/12/2015 the acquisition of the Polish packaging products Company Polipak Sp. z.o.o. More specifically, Sarantis Polska S.A., a 100% subsidiary of GR. SARANTIS S.A., signed an agreement for the acquisition of 70% of the share capital of Polipak Sp. z.o.o. This acquisition, completed within the context of the Groupâs strategic growth plan, supports further the Groupâs geographical footprint in the market where it already operates and provides growth opportunities for the Group into new markets. Polipak is a producer of polyethylene-film-based packaging products (mainly garbage bags), having warehousing and production facilities in Poland. The Companyâs current production involves mainly private label garbage bags and Sarantis Group branded garbage bags, covering at the moment 10% of Sarantis Groupâs needs. Excluding Sarantis Group business, Polipakâs annual sales for 2015 will amount to approximately 13.7 mil euros.
