Bloomfield Hills-based TriMas, a manufacturer of consumer, aerospace, and industrial products, has agreed to acquire Italy’s Affaba & Ferrari, a designer and manufacturer of caps and closures for food and beverage, and industrial product industries.
The transaction is expected to close before the end of the year, at which time Affaba & Ferrari will become part of TriMas’ Packaging segment reporting into its Rieke division. No financial terms of the agreement were released.
“The acquisition of Affaba & Ferrari will supplement our existing food and beverage and industrial product offerings, adding new blue-chip customers and a state-of-the-art manufacturing operation to our European base,” says Thomas Amato, president and CEO of TriMas.
Affaba & Ferrari offers proprietary product designs, production capabilities for aseptic applications, and important food packaging safety certifications, such as the British Retail Consortium/Institute of Packaging Global Standard and the Food and Drug Administration/Interstate Milk Shippers Compliance, all of which ultimately will enable TriMas to expand its current product offering to its global food and beverage customers.
Affaba & Ferrari was founded by Rosanna Affaba in 1949 in Borgo San Giovanni, Italy, where it continues to operate today. Started as a provider of closures and containers to local dairy farmers, her children later expanded the company.
“We are pleased to add the Affaba & Ferrari brand and business to TriMas’ Packaging group, as we believe the combination will unlock additional growth and expansion opportunities globally,” Amato says.
The TriMas acquisition of Affaba & Ferrari represents the company’s fourth acquisition in the packaging market since early 2019, and is consistent with its strategy to further build out its packaging platform, according to the company.
TriMas operates in 11 countries and has approximately 3,500 employees.
