Diana Capital, the private equity firm specializing in investments in Spanish middle-market companies, has announced that its portfolio company Lappí Labels and Flexible Packaging (Lappí Group), the Seville-based manufacturer of labels, printing solutions and flexible packaging, has acquired 100% of Alempack, a Portuguese producer of flexible packaging for the food industry.
Following the integration of Alempack, Lappí Group will reach €70 million in annual revenue, strengthen its leadership in the labelling and flexible packaging sector across the Iberian Peninsula, and further consolidate its position as a leading industrial platform within the European packaging market. The transaction adds expertise in Doypack and Flowpack packaging solutions, expands the group's Iberian manufacturing footprint and represents approximately 15% growth.
With the acquisition of Alempack, Lappí will comprise six companies and seven production facilities across the Iberian Peninsula. Alempack employs just over 40 people and, following the integration, the group's workforce will increase from approximately 350 to more than 390 employees. The transaction also expands the group's industrial footprint from around 51,000 square metres to nearly 60,000 square metres of manufacturing facilities across Spain and Portugal. The acquisition will enable Lappí Group to double its flexible packaging business, generate commercial and procurement synergies, increase production capacity to support future growth and strengthen its presence in Portugal.
Founded in 1999 and headquartered in Elvas, Portugal, Alempack manufactures a broad range of flexible packaging solutions, including printed reel films, thermoforming films, skin films, Doypacks, vacuum bags, shrink bags and high-barrier packaging. The company operates from a recently expanded 4,500-square-metre manufacturing facility incorporating printing, lamination, bag production, warehousing, quality control laboratories and office space. Alempack has established a strong customer base in both Portugal and Spain and has invested significantly in recent years to expand production capacity and modernize its manufacturing equipment.
A new strategic acquisition
The acquisition of Alempack represents the third investment made by Diana Capital's third private equity fund, Diana Capital III FCR. The transaction forms part of the inorganic growth strategy pursued by Lappí over recent years. Following the acquisition of Gráfica Calipolense in 2019 and the integration of the Portuguese companies CPM and Penta in 2023, the Seville-based group continues to expand its geographic footprint, manufacturing capacity and product offering in the labels and flexible packaging market. The acquisition of CPM and Penta in 2023 enabled the group to double its size while significantly strengthening its presence in both Spain and Portugal.
Founded more than four decades ago and currently managed by the family's second and third generations, Lappí Group has built an integrated industrial platform combining the production of self-adhesive labels, wrap-around labels, sleeves and flexible packaging solutions for sectors including food, beverages, personal care and consumer goods. Through a combination of organic growth, continuous investment in technology and an ambitious acquisition strategy, Lappí has established itself as the market leader across the Iberian Peninsula.
About Diana Capital
Diana Capital is one of Spain's pioneering private equity firms, with a long-standing track record in fund management. Founded in 2000 by Francisco Gómez-Zubeldia, the firm has invested more than €400 million in supporting the domestic and international growth of Spanish mid-sized companies.
Since its inception, Diana Capital has launched three private equity funds and has supported its portfolio companies in their expansion, industry consolidation and internationalization. Recent transactions include its investment in Revestech, the Alicante-based specialist in advanced waterproofing systems, as well as several successful exits, including Gransolar (sold to Trilantic), Burger King Spain (sold to Restaurant Brands Iberia, the master franchisee for Burger King in Spain and Portugal), lighting manufacturer Indal (now part of Philips), Guascor (acquired by Siemens), and Recyde (sold to CIE Automotive).
Diana Capital's executive team is supported by a Board of Directors comprising executives with extensive operational and financial expertise.
The firm has also received numerous industry awards for its investment activity, including several recognitions from SpainCap for outstanding growth capital transactions and projects generating significant economic and social impact.
For more information, visit www.dianacapital.es.
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Following the integration of Alempack, Lappí Group will reach €70 m...
