October 25th 2023 – Sun European Partners has reached an agreement to sell Vetrerie Riunite Group (“VR Group”), including Vetrerie Riunite S.p.A. (“Vetrerie Riunite”) and Borromini S.r.l. (“Borromini”) to Teak Capital and Tangor Capital. The Novaref division of the VR Group is not included within the transaction perimeter.

Teak Capital is an investment company present in the industrial, financial, education and health sectors, owned by the Moreira da Silva Family. Tangor Capital is the Family Office of the Silva Domingues Family, Teak Capital and Tangor Capital hold shareholding interests in BA Glass, one of the leading glass packaging companies in Europe, and Cerealis, a reference in the Portuguese food sector.

Davide Vassena, CEO of VR Group, added: “Our partnership with the Sun European team has been a great success. Our shared values and focus on delivering a customer-first strategy, combined with Sun European’s operational knowledge and deep manufacturing expertise have allowed us to transform and grow the business further.

We look forward to partnering with Teak Capital and Tangor Capital, who also bring extensive experience and an impressive track record as investors and operators, and with whom we look forward to a new growth phase for VR Group.”