Guala Closures S.p.A. entered into an agreement to acquire an unknown majority stake in Yibin Fengyi Packaging Co., Ltd on September 28, 2023. Yibin Fengyi Packaging generated revenues of approximately ?38 million and EBITDA of approximately ?5 million in the 12 months ended June 30, 2023. Zhu Yinzhang and Zhuo Yumin will continue to operate the business in China and retain a significant minority stake. The transaction is subject to certain customary closing conditions, including obtaining the necessary approvals. Guala Closures has successfully priced an offering of ?350 million, proceeds from which are expected to be used to fund the purchase price for the acquisition of Yibin Fengyi Packaging.

Guala Closures S.p.A. completed the acquisition of an unknown majority stake in Yibin Fengyi Packaging Co., Ltd in October 2023. KPMG China's transaction strategy and M&A financing team served as Guala's exclusive buyer's financial advisor in the transaction.