South African paper and packaging company Mondi Group has agreed to acquire ZAO Uralplastic-N (Uralplastic).
The deal has been signed with Joint Stock Company Rusnano and a private investor to acquire Uralplastic, for undisclosed amount.
Through its operating plant in Ekaterinburg, in the Ural region of Russia, Uralplastic manufactures a range of consumer flexible packaging products for food, hygiene, homecare and other applications.
Mondi Group CEO David Hathorn 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 deal is scheduled to be completed in July 2016.
The acquisition follows Mondi Group’s recently signed deal to purchase 90% stake in Turkish consumer packaging company Kalenobel from ARGUS Capital, a CEE focused private equity group for €90m.
Established in 1955, Kalenobel is engaged in manufacturing flexible consumer packaging for ice cream and other applications as well as aseptic cartons. It operates two manufacturing sites in the northwest of Istanbul.
Subject to competition clearance and other customary closing conditions, the deal is expected to be completed during the second half of 2016.
Employing around 25,000 people across more than 30 countries, Mondi offers over 100 packaging and paper products for applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper.
