Inn-Flex of Friuli grows in Serbia supported by Finest

From the partnership between Inn-Flex Srl, a Friuli-based company based in S. Giovanni al Natisone (UD), and Finest Spa, a new vehicle company was born, ready to lead the acquisition of a Serbian company active in the production of plastic films and bags for the food, pharmaceutical and chemical sectors.

The entry of Finest - a specialist for the internationalisation of companies in North-East Italy - as a minority shareholder in the Serbian newco promoted by the Inn-Flex Group has been formalised: with this new project, the Friuli-based Group further consolidates its international positioning, aiming to optimise and directly manage the value chain in the production of plastic films, a fundamental sector not only for the pet-food industry, but also for other strategic sectors.

Inn-Flex was founded in 2005 by the Volpato family, and already has foreign interests in Serbia through its subsidiaries Vopachel Doo and Fox-Pac Doo. The acquisition of the Serbian company involves a total investment of EUR 6 million, which will be realised through the establishment of a special purpose vehicle in Serbia, financed by the Group and Finest. The plan provides for the capitalisation of the special purpose vehicle, in which Finest Spa participates as a minority shareholder, with an investment of 25% of the share capital. The financial package is completed with further shareholder financing by Finest and the participation of the Italian Venture Capital Fund: a public instrument whose funds are provided by the Italian Ministry of Foreign Affairs and International Cooperation.

"Finest has chosen to participate in the new investment, renewing a long-standing partnership with the Inn-Flex Group, which over the years has created and will continue to create value both in Serbia and in our region," says Eros Goi, director of Finest Spa. "The investment is proof that, despite the uncertainties of the current economic scenario, Friulian companies are not giving up investing in internationalisation projects, confirming the importance of exports, which have always been a driver of growth. And for David Tomasin, managing director of Inn-Flex, "the acquisition in Serbia is part of a consolidated strategy of growth by external lines of the Group, which has allowed us over the years to expand our product portfolio and strengthen our competitive capacity on an international scale, so much so that we can count global players such as Coca-Cola, Nestlè and Dr. Oetker among our customers. Thanks to this acquisition, the Group will be able to benefit from new production and commercial synergies between the subsidiaries in Italy and abroad, increasing efficiency and overall production capacity'.

For 2024 on a consolidated level, Inn-Flex has a turnover of EUR 63.2 million: 200 employees, of which 150 in Italy. Following the acquisition, the group will reach a total of 350 employees.