Revealing the acquisition on 8 January, the Parisian mega-supplier said it would continue to strengthen Antalis’ position in the European market.

100 Metros is a major packaging firm in the Portuguese market, with consolidated sales of €13m (£11.2m) in 2023, and 80 employees, operating out of the Porto region and Lisbon.

Founded in 2000, it specialises in the design and conversion of customised and bespoke industrial packaging.

Cardboard, film, foam, and bubble wrap form core elements of the company’s business, and with much of its business coming from the automotive and ceramics sectors.

Hervé Poncin, Antalis’ CEO, said: "100 Metros is a tremendous opportunity [for Antalis,] thanks to its know-how in packaging converting and custom packaging development.

“As a leading packaging distributor, Antalis aims to strengthen its global presence in order to offer the best products and services to its customers.”

Duarte Manuel Barros Dios, founder and president of 100 Metros, added: “By joining Antalis, 100 Metros will be able to broaden its product and customer portfolio, and pursue its development in Europe thanks to an expanded product range and new international customers.”

Antalis’ purchase of 100 Metros follows other expansions in the peninsula’s markets.

In June 2022, the company signed a purchase agreement with the €12.7m Cohal Group, which supplies the Spanish market with self-adhesive labels and packaging products.

The €5m corrugated board and plastics distributor Gosuma followed shortly after in April 2023.

Antalis operates in 31 countries, employing over 4,000 staff.