TriMas Announces Closing Of Affaba & Ferrari
Our parent company, TriMas (NASDAQ: TRS), announced the completion of its previously announced acquisition of Affaba & Ferrari.
Affaba & Ferrari, is a designer and manufacturer of precision caps and closures for food & beverage and industrial product applications.
“We are pleased to have closed on this strategic acquisition and look forward to Affaba & Ferrari’s contributions to our Rieke business and TriMas’ Packaging group,” said Thomas Amato, President and Chief Executive Officer of TriMas. “Affaba & Ferrari will expand our existing food & beverage and industrial product lines, adding new product applications for consumer packaged goods and blue-chip industrial customers, and a state-of-the-art manufacturing operation to our European base. We welcome Silvia and Guglielmo Ferrari, the prior co-owners, siblings and children of the original founder, Rosanna Affaba, to TriMas and our family of businesses. We are pleased Silvia and Guglielmo will stay on and continue to oversee the day-to-day operations of Affaba & Ferrari, and we look forward to working together to serve our existing and new customers with our expanded product offering.”
Affaba & Ferrari, located in Borgo San Giovanni, Italy, designs, develops and manufactures proprietary, precision caps and closures, with intellectual property protection, for customers throughout Europe. The innovative product offering includes aseptic caps for juices, dairy products and sport isotonic/energy drinks, as well as tamper evident, child-proof, flex spout and other caps and closures used in food & beverage, agrochemical and industrial applications. Affaba & Ferrari is expected to achieve approximately €32 million in revenue in fiscal year 2020.
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