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German pharmaceutical packaging maker Faller Packaging has announced the acquisition of Hungarian peer Pharma Print, according to state news agency MTI.

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“Our management team studied Pharma Print for several months and was impressed by the quality of its products, its strong growth potential and compatible company culture,” managing partner Michael Faller said in a press release. Faller Packaging did not disclose the price of the acquisition.

Family-owned Pharma Print employs 70 people. It is based in Debrecen (233 km east of Budapest). Pharma Print had net sales revenue of HUF 1.2 billion (some EUR 3.6 million) last year, public records show.