Bavelloni SpA has begun negotiations to purchase Glaston Corp.’s pre-processing business in the U.S. and Canada.
According to a release from Bavelloni, the move is aimed to consolidate its presence in the U.S. and Canada, where it is currently represented by Glaston America. The companies are also defining the renewal of their collaboration in which Glaston acts as official Bavelloni distributor in Mexico, Brazil and Singapore.
“The American market has always been very important to the Bavelloni brand,” says Franco Pirola, sales director and partner of Bavelloni SpA. “This transaction will enable us to further expand our presence and our business in the United States and in Canada. The collaboration with Glaston has been crucial in the last 18 months, and it will continue to be so even in the future.”
The negotiations are expected to be completed by the end of March, according to a release from Glaston. Glaston’s pre-processing business in the U.S. and Canada totaled approximately EUR 4.9 million ($5.2 million) in sales in 2016.
Glaston acquired the Italian company Z. Bavelloni SpA, which specialized in pre-processing operations, in 2003 and the company was sold to its local management in 2015.