Premio Venezia – Investment Category
This ICCC prize celebrates a Canadian firm who invested in an Italian company, with the objective to penetrate a new market, to complete its products portfolio, and to access new, value-added technologies.
The Paxiom Group is a leader in manufacturing and supplying packaging machinery solutions globally for the food and non-food industries, through its brands WeighPack Systems, Endflex, and CombiScale.
This year, the founder Louis Taraborelli continued the Group’s internationalization strategy with the acquisition of the Italian company ValTara in Veneto. This investment brought Mr. Taraborelli full circle, having started his career in Italy over 40 years ago as an importer distributor in America of some of the largest Italian packaging brands at the time.
In addition to complementing Paxiom’s already robust product line, the acquisition of ValTara provides the Group with a European base for future growth of its sales and service activities in Europe, Scandinavia, Russia, Middle East and Africa; as well as creating a full-blown showroom of machines built from their other global facilities.
This strategic investment, which highlights the complementarity between Canadian leadership and know-how and Italian expertise in the packaging automation sector, has already generated significant benefits, created many manufacturing jobs and identified global business opportunities in Italy for the Paxiom Group.
With more than 250 employees located in Montreal, Toronto, Schio (Italy), Milwaukee, Las Vegas, Miami, and Shanghai, the Paxiom Group can now provide its clients with the peace of mind that they can work with one manufacturer, one service department and one point of contact to further automate their packaging processes from product to pallet.