AR Packaging Announces Acquisition of MeadWestvaco Interests
AR Packaging has announced it has received approval for the previously-announced acquisition of the European tobacco, chocolate, confectionery and general packaging operations from the global MeadWestvaco Corporation. The business will be consolidated as from today, 1 May.
The acquired operation includes three plants in Graz, Austria, Krakow, Poland and Moscow, Russia along with certain additional carton business and related machinery in Svitavy, Czech Republic. AR Packaging will operate the acquired business under the A&R Carton brand.
“We are happy to finalise this strategic move for AR Packaging where we establish a stronger position as one of the leaders in the tobacco segment while enhancing the strategic position of key accounts in the confectionery and consumer goods segments. We elevate AR Packaging to a top three position in the European folding carton market with a total group net revenue of approximately 550 million EUR”, said Harald Schulz, CEO of AR Packaging.
“I look very much forward to integrating the newly acquired operations. This is an important milestone in realizing our growth strategy in selected market segments.”
© 2015 European Supermarket Magazine – your source for the latest retail news.