Investindustrial-backed Guala Closures completed the acquisition of Yibin Fengyi Packaging.

Investindustrial-backed Guala Closures, a provider of packaging of mineral water and soft drinks, completed the acquisition of Yibin Fengyi Packaging, a beverage & catering packaging provider. Financial terms were not disclosed. "The merger between Guala and Fengyi will not only strengthen the Group‘s offerings in China, with a special focus on the essential Baijiu region but also across Asia. China is a fragmented yet significant market that presents substantial growth potential for the new entity," Gabriele Del Torchio, Guala Chairman.