Mayr-Melnhof Group grows and continues Consolidation on European Folding Carton Market strengthening its Position in Russia
MM Packaging today signed an agreement to acquire three A&R Carton sites one each in St. Petersburg, Timashevsk, Southern Russia, and Augsburg, Germany.
The market share and customer portfolio fit very well into the ongoing growth strategy of MM Packaging and generate revenues worth EUR 122 million in 2013. About 50,000 tons of cartonboard are converted per annum.
The operations concentrate on rotogravure printing, particularly for tobacco packaging and general packaging for consumer goods manufacturers in Russia respectively. Global relationships with customers will be further strengthened through this growth step.
The preliminary purchase price will amount to approximately EUR 100 million.
“The core component of this acquisition lies in its high consolidation potential, which should allow for an attractive value creation”, comments CEO, Mr. Wilhelm Hörmanseder on the strategic reasoning for the MM Group.