South American investor group Alma Monta has acquired masking and packaging tape producer Evotape (Santi Cosma e Damiano / Italy; www.evotape.com) from the Luxembourg-based investment fund bluO (www.blu-o.eu) for EUR 19m. Evotape has an annual turnover of EUR 60m with over 300 employees at its production sites in San Pietro Mosezzo and Santi Cosma e Damiano, both in Italy. The company’s major clients include Beiersdorf subsidiary Tesa (Hamburg / Germany; www.tesa-ag.de) and Henkel (Düsseldorf / Germany; www.henkel.com).

Pablo Keller of Alma Monta, which represents a group of South American investors that specialises in the plastic and adhesives sectors, said: “Evotape represents our first acquisition in Europe and we are looking for further investment opportunities.” The acquisition includes all assets and production sites and there is no requirement for an anti-trust filing. The transaction is the first divestment for bluO, which was founded in 2008.