Colep has announced that it will split its business into two new companies: Colep Packaging and Colep Consumer.
Previously: Berlin Packaging Acquires Roma International
According to Colep, the decision comes after realizing that the packaging and contract manufacturing businesses are different both operationally and strategically.
Colep has started the required legal procedures to complete this operation. The RAR Group, sole shareholder of Colep, will remain the 100% shareholder of both new entities.
Paulo Sousa, currently managing director of Colep's packaging division, will become CEO of Colep Packaging.
Pierfranco Accardo, currently managing director of the consumer products division, will become CEO of Colep Consumer Products.
Both appointments will be effective July 1, 2021.
Colep's health care division will become part of Colep Consumer Products.
Vitor Neves, Colep's current CEO and future chairman of both new entities, said: “The step we are now taking is very important to empower the management team of each of our businesses to strengthen their position in their respective markets. I’m sure that Paulo and Pierfranco will bring their experience, knowledge and enthusiasm to lead their respective organizations to grow each of their businesses and provide our stakeholders withhigher levels of satisfaction.”