The Ardagh Group are to complete their purchase of Finanziaria di Partecipazioni Industriali S.p.A (Fi.Par), assuming the company meet certain conditions. The purchase is intended to help strengthen the company’s presence in the metal packaging industry.

The deal is believed to be valued somewhere in the  €125m range and follows the groups purchase of Impress last year for €1.7bn, which marked Ardagh’s first real steps into the metal packaging industry after years spent as a saw glass recycle and container producer.

Fi.Par trades under the names In Cam, National Can Italiana, Eurobox, European Aerosol Can and National Can Hellas, currently produces metal packaging for the food and aerosol markets in Italy and Greece.

Talking about the acquisition, Ardagh Group chief executive Niall Wall commented “With this acquisition Ardagh reinforces its position in two of its key product areas: metal food containers and aerosols. Annual Group sales in Italy including glass and metal will now be substantially increased, making this one of our key geographies and further strengthening our presence in Southern Europe.”