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08 of April of 2021

Colep announces split of its businesses into two new companies

Colep, a leading global player in the consumer goods packaging and contract manufacturing industries, announces its intention to split its businesses into two new entities, from the 1st July 2021. Those entities will be named Colep Packaging and Colep Consumer Products. The RAR Group, sole shareholder of Colep, will remain the 100% shareholder of both new entities.

This decision comes from the realisation that, although serving similar industries, the packaging and contract manufacturing businesses of Colep are essentially different, both operationally and strategically.

The current marketplace requires companies to be more agile and act faster. This split will provide the respective management teams with the required autonomy and empowerment to meet their customers’ and remaining stakeholders’ expectations and therefore, to achieve their strategic ambitions.

Colep has started the required legal procedures to complete this operation.

To lead the new companies Colep is appointing Paulo Sousa to become the CEO of Colep Packaging and Pierfranco Accardo to become the CEO of Colep Consumer Products. Both appointments will be effective from the 1st July 2021.

Paulo Sousa, currently the Managing Director of Colep’s Packaging Division, has been with the company for approximately 20 years, having successfully held commercial and operations leadership positions in both the Consumer Products and the Packaging Divisions.

Pierfranco Accardo, currently the Managing Director of the Consumer Products Division, joined Colep in January 2021, after a successful career in Consultancy and Contract Manufacturing within the Wellness, Healthcare and Beauty industries. Before joining Colep, Pierfranco held CEO positions at Art Cosmetics and Chromavis Fareva.

Colep’s current Healthcare Division will become part of Colep Consumer Products and will continue to enjoy a high level of autonomy under the leadership of its Managing Director, Christian Schmidt.

Vitor Neves, Colep´s current CEO and future Chairman of both new entities commented: “The step we are now taking is very important to empower the management team of each of our businesses to strengthen their position in their respective markets. I’m sure that Paulo and Pierfranco will bring their experience, knowledge and enthusiasm to lead their respective organisations to grow each of their businesses and provide our stakeholders with higher levels of satisfaction.”

For further information, please contact:

Marketing Department

Marketing.Packaging@colep-pk.com

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