Van Genechten Packaging (VGP) has acquired 100 per cent of its UK joint venture with Cartoncare Group, which was formed one year ago.
This strategic move strengthens VGP’s position in the UK market and is a "significant milestone" in VGP’s growth strategy, the company stated.
The Cartoncare Group comprises of privately-owned companies, including Cartoncare Ltd, MSO Cleland Ltd and Pendragon Presentation Packaging Ltd and has combined annual sales of €30m. The acquisition of the group brings the number of VGP sites to a total of 12 locations in 9 countries.
The Cartoncare Group's operational teams will remain in place and Managing Director Joanna Calixto keeps control over the day-to-day business.
Frank Ohle, CEO of Van Genechten Packaging Group comments:
"By integrating Cartoncare Group in the VGP family, we strengthen our position in the UK market. Their wide customer base in general and premium packaging enables us to bring even greater value to our customers, with expanded design and production capabilities. Together, we can grow and prosper in the UK and EU market of folding carton.”
Ms Calixto, Managing Director of Cartoncare Group, said:
"Guided by the resources and expertise of VGP, we are even better equipped to innovate, create and deliver the best sustainable packaging for our customers. We’re looking forward to a bright and exciting future, together with all our partners and customers.”