Press Releases

Concentration on strategic assets - RAR Group reorganises its holdings in Colep and GeoStar

The RAR Group has carried out an asset reorganisation operation in order to concentrate its investments in the most strategic companies. As an immediate result of this rearrangement, the entire operation of Colep in Brazil has been acquired and the shareholder position held in GeoStar sold.

Colep’s entire operation in Brazil acquired
Currently Colep’s operation in Brazil involves assets to the tune of 300 million reais (approximately 100 million euros). Although Colep already held a controlling shareholder position (51%), the strengthening now achieved will make it solely responsible for managing the operation on this market. 

Colep is the global leading player in the packaging industries and contract manufacturing of consumer goods. The present acquisition is part of the company’s internationalisation strategy, which includes the reinforcement of the business in different regions of the globe, particularly in the Americas. In this way, Colep consolidates its leadership in the Latin American aerosol and consumer goods market, in which it currently owns three industrial plants in Brazil and one in Mexico. 

Colep is the company that most contributes to the RAR Group’s global sales. In 2014, it had a turnover of about 512 million euros, maintaining its position as European and Brazilian leader in the contract manufacturing for the formulation and filling of aerosol and non-aerosol products.

RAR sells its position in GeoStar
Following a period of seven years of shared leadership of GeoStar by the RAR and Sonae Groups, RAR will no longer hold any shares in the company’s capital, while Sonae will become its sole shareholder. 

The joint aligned efforts of both shareholders helped the company out of the difficulties it experienced over the last few years, to achieve profitability levels more in keeping with its position as a reference operator in the travel agency segment.

Currently, GeoStar has an annual turnover of approximately 154 million euros, and has a network of 37 stores, an Internet business (www.geostar.pt), two Business Travel Centres in Lisbon and Porto, and an office in Madrid.