ÅR Packaging Group AB closes the previously announced acquisition of the European tobacco, chocolate confectionery and general packaging operations from MeadWestvaco Corporation.
The transaction has been completed today and the business will be consolidated as from May 1, 2015.
The acquired operation includes three plants in Graz, Austria, Krakow, Poland, and Moscow, Russia, and 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 finalize this strategic move … 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 (US$611.5 million),” says Harald Schulz, CEO of AR Packaging.