VPK Packaging Group has reached an agreement to acquire 100% of the shares of SolidPack, as the company said in the press release received by Lesprom Network.
With this move VPK will further expand its solid board segment - known under the brand name Smart Packaging Solutions. By bundling two complementary suppliers under one solid brand, the group aims to be to respond to the increased market requirements for solid board packaging.
Smart Packaging Solutions is the solid board division of VPK Packaging Group. As with all of the group's packaging options, solid board forms part of an integrated and circular production process, thanks to in-house paper recycling.
With 250 employees, Smart Packaging Solutions produces about 85,000 tons of packaging per year. This makes for a turnover of Euro 70 million, which is mainly achieved in sectors such as vegetables, meat and chicken.
The acquisition of SolidPack adds 175 employees, 65,000 tons of packaging and more than Euro 50 million in turnover. Core markets are in the meat, fish and flower industries. With this transaction, Smart Packaging Solutions takes a leading market position in Europe.
