Tecnocap acquires Reefcap

Image: Tecnocap

Shortly after its expansion into India and Brazil, Tecnocap has completed a decisive operation for its growth strategy by acquiring ReefCap, a Saudi leader in the production and marketing of metal closures for glass jars. 

In addition to its production plant and commercial office in Jeddah, a city that hosts the second most important commercial port in the entire Middle East, ReefCap also has a distribution centre and a consolidated sales network in the United Arab Emirates, Oman, and Egypt. ReefCap’s ‘twist’ metal closures are already well-known and used by major players in the food industry in both the Middle East and Africa. 

This operation, which includes the participation of the current Saudi owners with a minority stake, marks the definitive entry of the Tecnocap Group into the Middle Eastern market. 

“The acquisition of ReefCap represents another milestone in our global growth strategy, achieved through business diversification and expansion into rapidly growing markets,” said Michelangelo Morlicchio, founder and CEO of Tecnocap, who added, “In addition to ensuring a strong presence and significant production capacity, this transaction will allow us to strategically leverage the business opportunities connected to the government program such as the futuristic city Neom and the Saudi edition of Expo 2030, moving through the coastal development in the Red Sea.” 

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