German investment bank LIVIA Corporate Development SE reached an agreement to acquire the Baden board and packaging facility from Smurfit Kappa, as LIVIA Group said in the press release received by Lesprom Network.
The Baden site, which has 298 employees, is located in Gernsbach in Germany and comprises both a mill and board conversion plant. The mill produces recycled carton board and the conversion plant manufactures folding board boxes. The white line chipboard commodity grade produced is not a core paper grade for Smurfit Kappa and this has been a key factor in the decision to sell.
The Baden mill produces 152,000 tons of board which is used to create primary packaging for a variety of products and the conversion facility converts 64m sqm of board annually.
In addition to continuing the carton production and conversion activities of Smurfit Kappa Baden Board GmbH on a standalone basis, the company will focus on expanding its strong market position.
