Giflor, a Vicenza-based company that has been producing injection-molded plastic closure systems for the cosmetic, personal care and pet care, food, para-pharmaceutical and OTC industries for 50 years, acquires 100% of ITAP International, one of Europe’s leading manufacturers of plastic bag-in-box taps for food use with a 7 million euros turnover. With this transaction, the company based in Grumolo delle Abbadesse with more than 16 million euros in turnover and more than 1 million in net profit, which held a 45% stake in ITAP, becomes its sole owner and establishes “ITAP a brand by Giflor”.
Giflor CEO Nadia Capovilla says, “We saw in the acquisition of Itap an interesting strategic opportunity that allows us to continue our expansion into a new market, not contiguous to the one in which we operate, building on the technical know-how and well-established relationships with ITAP’s customers and suppliers, which have already materialized in important foreign orders and the purchase of new machines that will allow the growth of our production capacity. Giflor is not a new entry in the food packaging sector; in fact, we have been producing certified injection plastic closure systems for years. With ITAP, we wanted to diversify our offer of food closures and integrate our respective company networks by proposing taps of excellence to the market, which not only allow the contents to be easily dispensed but also guarantee maximum optimization of the preservation of the same, always maintaining practicality and made in Italy design.”
According to Grand view research, the international bag-in-box market, where ITAP can count on a well-established foreign customer base, is growing strongly, especially in the food sector. Sector where almost all bags mount plastic taps. The total value of the bag-in-box container market now reaches nearly 4 billion euros with an annual growth rate of between 5 and 7 percent.
Nadia Capovilla continues, “Our choice was supported by analyses that record an increase in the market related to bag-in-boxes particularly in the food & beverage sector abroad and a growing interest in food products packaged and packaged in containers that can optimize the use of space, plastic materials and the durability of the liquids inside them. Therefore, as Giflor, we aim not only to become more competitive and far-reaching in the industry, but to fuel the growth of the global market by investing in research and development of new closure solutions that are suitable for all kinds of viscosities and that not only comply with strict European regulations, but are certified with patents and design patents.”
With the company’s acquisition by the Fracasso family, ITAP a brand by Giflor is part of a production reality that complies with ISO 9001 and BRC standards, the most important certification in the food packaging sector, and will be increasingly focused on sustainability. In fact, the taps are produced with colors that facilitate the disposal and recycling of plastic materials, and, through the creation of full-sealing closure solutions that zero out drips or leaks, help to actively combat food waste.