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Condor Electronics, a leading electronics equipment manufacturer headed by Algerian businessman Abderrahmane Benhamadi, has successfully concluded a definitive agreement with French beverage giant Castel Group for the sale of its entire 100-percent stake in Alver Spa.
Alver, a leading producer and marketer of glass products in Algeria, specializes in the local packaging market with a focus on glass bottles and jars for the beverage and food industries.
Under the ownership of Condor Electronics — a subsidiary of the Benhamadi Group — and the leadership of Benhamadi, the company has grown to become a major player in the production and marketing of hollow glass packaging in Algeria.
Benhamadi, the founder of Condor Electronics, announced the sale of Alver to Castel as a strategic move to refocus the company on its core operations.
“This sale is part of the logic of refocusing Condor on its historical businesses, and we are happy to have found in Castel a buyer who will be keen to perpetuate the activity,” he said.
Castel’s acquisition of the glass producer from Condor demonstrates the group’s commitment to diversifying its operations and reducing its environmental impact.
By utilizing Alver’s expertise to produce bottle packaging in Algeria, Castel aims to decrease reliance on plastic in the fruit juice and beer industries.
Gil Martignac, a representative from Castel, highlighted the company’s dedication to sustainable, locally produced returnable packaging and expressed confidence in the growth potential of the Algerian and African economies.
By acquiring Alver, Castel aims to increase autonomy in its sourcing of inputs and packaging, reduce its reliance on PET plastic, and promote the use of returnable and recyclable glass.
With existing glass factories in Cameroon, Angola, and Morocco, the company plans to expand production capacity, increase sales of bottles in Algeria, and use the country as a base for exporting to West Africa, Europe, and the West.
In line with its goal of promoting economic self-sufficiency in the regions where it operates, the factory will primarily use locally sourced materials, particularly sand.
Castel will also invest in modernizing the industrial facility and developing the skills of its workforce to support its long-term growth.
