Mutares says Sonoco Paper France is another step in the development of its French portfolio. More acquisitions in France to follow in 2016.
Germany's private equity company Mutares has acquired Sonoco Paper France. Sonoco Paper France is part of the Sonoco subsidiary Sonoco-Alcore and runs the Schweighouse-sur-Moder board mill with an installed capacity of approximately 95,000 tpy of coreboard.
According to Mutares, Sonoco Paper France has a strong market position in France and Germany. In 2015, it generated sales of €32m with 73 employees. The company has not revealed financial details of the deal.
Mutares is already active in the French market. Last October, the company had acquired Metsä Wood France with two production sites in Honfleur and Bouleville and renamed the company to Norsilk.
Mutares is considering further acquisitions in France in the current year. Philip Szlang, President of Mutares France, said that the acquisition of Sonoco Paper France is "a new step in the development of the French portfolio. With regards to our current pipeline, this is the first of a series of French acquisitions we expect in 2016."
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