Mondi has completed the acquisition of 100% of the outstanding shares in Powerflute Group Holdings Oy, a division of Nordic Packaging and Container Holdings, for a total consideration of Euro 365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tonnes of high-performance semi-chemical fluting. The business will be integrated into Mondi’s Packaging Paper business unit.
Commenting on the acquisition, Mondi Group CEO Peter Oswald said: “We are excited to have completed this acquisition, which supports our strategy of investing in high-quality packaging and paper assets, further broadens our containerboard product range, and extends our geographic reach.”
Mondi is a global leader in packaging and paper. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions.
