The Belgian company Asteria has acquired Grupo Ezquerro, a firm specialising in labels and cardboard packaging that employs around 200 people—120 of them in Navarre—and operates four plants: two in Lodosa, one in Álava and one in La Rioja. The acquisition adds €42 million in additional revenue to Asteria, a European leader in the packaging sector whose turnover reached €453 million last year.
With 34 production sites across 10 countries, Asteria has been backed since 2019 by the private equity firm Waterland. Since then, the Belgian company has sought to consolidate its position in the sector through a selective acquisition strategy, targeting European companies with a suitable strategic fit.
Grupo Ezquerro, meanwhile, is a family-owned business that began as a traditional printer of catalogues and envelopes. Today, its operations are diversified into four different units: gummed and self-adhesive labels, as well as folding and corrugated cardboard.
Given its broad presence in the Spanish market, the group records €50 million in turnover with €8 million in EBITDA and employs 200 people. Its integration into Asteria has been made possible thanks to the exclusive advisory services of DC Advisory, an investment firm specialised in the middle market.
This milestone gives rise to a pan-European giant with more than 2,000 employees.