Private equity investment fund INVL Baltic Sea Growth Fund to invest €30m in Grigeo's corrugated business.
Lithuania's major paper and corrugated products company Grigeo AB expects strong demand growth in the corrugated segment in the Baltic region and plans to triple its capacities over the next five years. Among other things, the company mulls a €150m investment to build a new recycled corrugated case material mill. The new paper mill is reportedly to build either in Lithuania or one of the other countries where Grigeo owned companies operate, e.g. Ukraine or Latvia.
Against this background, the company has attracted €30m investment by the private equity investment fund INVL Baltic Sea Growth Fund. INVL said it will acquire up to 49.99% in Grigeo's subsidiary Grigeo Investicijų Valdymas, which in turn is holding shares in Grigeo's corrugated business companies Grigeo Klaipeda, Grigeo Recycling, and Mena Pak.
Grigeo's tissue paper and fiberboard businesses are not part of the deal with INVL.
This article is part of our free coverage on the corrugated products industry in Europe.
To gain full access to company news and in-depth market and price reports on major paper and board grades, raw materials and consumables consider subscribing to EUWID Pulp and Paper or start a three-week free trial.