April 2021

Colep announces plans to split into two companies

Colep has announced its intention to split its businesses into two new entities—Colep Packaging and Colep Consumer Products—effective July 1, 2021. The RAR Group, the sole shareholder of Colep, will remain the 100% shareholder of both new entities.

In a press release, Colep said the decision to split was due to the operational and strategic differences between the packaging and contract manufacturing parts of the business, despite serving the same industries. The split will also provide the businesses with agility and faster actions in acompetitive marketplace.

Colep has already begun the required legal procedures to complete this operation. Vitor Neves, Colep´s current CEO, will become Chairman of both new entities. Paulo Sousa will become CEO of Colep Packaging and Pierfranco Accardo will be appointed CEO of Colep Consumer Products. The appointments are effective July 1.

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

Pierfranco Accardo is currently Managing Director of the Consumer Products Division and joined Colep in January 2021, after serving as a consultant to contract manufacturers. Prior, Accardo was CEO at Art Cosmetics, and previously, Chromavis Fareva.

Colep’s Healthcare Division will become part of Colep Consumer Products and will
run autonomously under Managing Director Christian Schmidt.

“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,” said Neves. “I’m sure that Paulo and Pierfranco will bring their experience, knowledge and enthusiasm to lead their respective organizations to grow each of their businesses and provide our stakeholders with higher levels of satisfaction.”