Lappí doubles flexible packaging output with Alempack acquisition in Portugal

Consolidation in the Iberian converting sector continues to accelerate at a relentless pace. Lappí Labels and Flexible Packaging, backed by the private equity firm Diana Capital, has officially acquired Elvas-based flexible packaging converter Alempack. The move is a decisive and strategic step for the Seville-headquartered group, immediately doubling its flexible packaging output and pushing projected aggregate sales well past the €70 million threshold for 2026.

Strategic Capabilities in FMCG

The transaction is much more than a geographical play for market share; it is a tactical acquisition of highly sought-after technical capabilities. Alempack, founded in 1999, brings specialized machinery and deep engineering expertise in Doypack and Flowpack formats. These two packaging styles are currently dominating the fast-moving consumer goods (FMCG), pet food, and personal care markets. Doypacks, with their stand-up convenience, and flowpacks, offering hermetic sealing for perishables, provide undeniable advantages in lightweighting and shelf appeal.

By bringing these specific conversion capabilities in-house, Lappí effectively reduces its historical reliance on traditional label printing. The group is proactively broadening its comprehensive portfolio to include high-barrier packaging, vacuum bags, shrink bags, and printed reel films. As brands face increasing pressure to lower their packaging carbon footprint throughout 2026, flexible formats like these offer reduced transport emissions and material usage compared to rigid alternatives, aligning perfectly with modern supply chain sustainability mandates.

Expanding the Iberian Industrial Footprint

From an industrial and logistical standpoint, the integration represents an immediate 15 percent growth in Lappí’s operational footprint. The group now commands a robust network of six companies and seven advanced production facilities strategically distributed across Spain and Portugal. The acquisition of Alempack’s recently expanded 4,500-square-meter manufacturing plant pushes Lappí’s total manufacturing space to nearly 60,000 square meters.

Furthermore, the workforce will expand from roughly 350 to over 390 skilled employees. Crucially, Lappí has opted to retain Alempack’s current management team. This is a remarkably smart and necessary move in the converting industry to ensure operational continuity, preserve vital technical know-how, and protect existing client relationships in the Portuguese market without disruption.

A Textbook Roll-Up Strategy

This buyout marks the third major acquisition for Lappí in the span of just three years, closely following the successful integration of Madrid-based CPM and Portugal's Penta Group in 2023. Supported by Diana Capital’s third private equity fund (Diana Capital III FCR), Lappí is executing a textbook roll-up strategy. The firm is systematically transforming from a regional label printer into a pan-Iberian packaging powerhouse, fully capable of offering end-to-end converting solutions to multinational brands. In an era of supply chain vulnerabilities, FMCG companies heavily prefer working with large, financially stable suppliers that can guarantee volume and format flexibility across multiple regional sites.

In the broader context of the 2026 packaging landscape, the shift toward highly specialized flexible formats shows no signs of slowing down. Consumers demand convenience, while brands demand extended shelf life and lower logistics costs. Alempack’s specialized knowledge in thermoforming films and skin films directly complements Lappí’s existing wrap-around and sleeve label business, creating cross-selling opportunities that will undoubtedly drive organic growth in the coming years.

Lappí’s aggressive consolidation strategy proves that sheer scale and format versatility are the only realistic ways to defend margins in the highly competitive southern European converter market. As private equity continues to heavily fund these multi-site roll-ups, will mid-sized independent flexible packaging players be forced to either sell to the highest bidder or pivot into extreme hyper-specialization to survive the decade? Follow The Paper for daily news, market signals and key updates from the global paper, corrugated and packaging industry. — Sigue toda la actualidad del sector en www.thepaper.ai