Greiner Packaging (Kremsmünster / Austria; www.greiner-gpi.com) has acquired all the shares of Capsnap Europe (Kremsmünster / Austria; www.capsnap.at), a leading manufacturer of five-gallon polycarbonate bottles. Capsnap Europe was founded at the beginning of 1999 as a 50:50 joint venture between Greiner and Portola Packaging (San Jose, California / USA; www.portpack.com). No details of the transaction, which became effective on 1 January 2008, were disclosed.

With a single European owner, Capsnap Europe is confident that it can concentrate on further expanding its market position in Europe. Greiner Packaging intends to strengthen "this important platform" and will retain the 30 jobs at the company. Capsnap will also continue to market five-gallon caps from Portola – only a few markets and customers will be supplied direct by the US company.

Explaining its withdrawal from the jv, Portola said the transaction conformed to its strategy of concentrating on its core competency in producing of plastic caps for the milk, water and beverage industries. The US company also manufactures caps for the cosmetics industry. In 2006, Portola posted sales of USD 272m.