Mondi Group has signed an agreement to acquire 100% of the outstanding share capital of ZAO Uralplastic-N (“Uralplastic”) from Joint Stock Company Rusnano and a private investor.
Uralplastic operates one plant near Ekaterinburg, in the Ural region of Russia and manufactures a range of consumer flexible packaging products for food, hygiene, homecare and other applications.
Commenting on the acquisition, David Hathorn, Chief executive of Mondi Group, said: “The acquisition of Uralplastic supports the development of our Consumer Packaging business and strengthens our presence in the Russian consumer packaging market, complementing our existing plant in Pereslavl, near Moscow and allowing us to improve our offering to customers in this growing market.”
The transaction is expected to complete in July 2016.
Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries.