GPA Global has announced the acquisition of Cosfibel Group, a leading player in luxury promotional packaging, luxury gifts and merchandising solutions.
Cosfibel and its founder, Alain Chevassus, are renowned for their commitment to high-end brands. From L'Oréal to Chanel, LVMH, Rémy Martin, La durée and Damman, Cosfibel has become one of the world's most renowned suppliers of luxury packaging and merchandising. Headquartered in France, with global service centers in 16 locations and operating in industries such as personal care and beauty, wine and spirits, and delicatessen, Cosfibel has an impressive client base of more than 70 global brands.
This latest acquisition will allow GPA to establish itself as a world leader in luxury packaging and pursue its objective of increasing its production capacities in North America and abroad. It will also strengthen GPA's European presence through Cosfibel's main production sites in Spain, Portugal and Belgium. This growth is critical to GPA's strategy to help customers shorten their supply chains to speed time to market, reduce material sourcing risks and reduce carbon emissions.
Adam Melton, CEO of GPA, said: "I am very pleased to welcome the Cosfibel team to the GPA family. Marie Sermadiras, CEO of Cosfibel, is a serial entrepreneur who joined the management of GPA to help it continue its expansion in Europe. Our global supply chain and production capabilities will allow us to better support Cosfibel's customers and increase our visibility in the beauty and food sector, while strengthening our leadership in wines and spirits. Cosfibel has a talented team on a global scale and its founder, Alain Chevassus, will work with us as a senior advisor. »
Alain Chevassus, founder and president of Cosfibel, added: "GPA and Cosfibel will be a winning combination. I firmly believe that this alliance will shape a promising future for both our clients and our teams. »
Marie Sermadiras, CEO of Cosfibel, said: "I am delighted with our association with GPA. This alliance is an explicit recognition of the fantastic work our teams have done to successfully grow and transform our business in a sustainable way, despite the challenges posed by the global pandemic. The complementary capabilities, creativity and focus on excellence of GPA and Cosfibel will allow us to grow even faster, accelerate our diversification and foster the transformation of the packaging and gift industry. »
The acquisition of Cosfibel is the second largest acquisition completed by ABM with the Ontario Teachers' Pension Plan ("Teachers'") Council as shareholder. It follows the recent acquisition of California-based Jenco Productions, which helped establish GPA's presence in Mexico and expand its capabilities in the U.S. Ontario Teachers' acquired a jointly controlled interest in ABM in September 2022.
Raju Ruparelia, Senior Director, Private Capital, Asia Pacific at Ontario Teachers', said: "We are impressed with Cosfibel's superior design capabilities and strong reputation in its core markets and industries. This association with GPA will contribute to the development of Cosfibel's well-established European client network as part of the robust global surrogacy platform. Ontario Teachers' is pleased to see GPA continue its growth strategy by acquiring high-quality assets and partnering with strong management teams. »