*** Press Release for Immediate Release **
VPK strengthens its market position in solid board with acquisition of SolidPack
Aalst, 19 January 2017 - VPK Packaging Group has reached an agreement to acquire 100% of the shares of SolidPack. With this move VPK will further expand its solid board segment - known under the brand name Smart Packaging Solutions. By bundling two complementary suppliers under one solid organisation, the group aims to respond to the increased market requirements for solid board packaging.
Smart Packaging Solutions is the solid board division of VPK Packaging Group. As with all of the group's packaging options, solid board forms part of an integrated and circular production process, thanks to in-house paper recycling. Smart Packaging Solutions is housed at VPK's facilities in Oudegem. In 2008, the division expanded to a second location in Meer, near the Dutch border.
With 250 employees, Smart Packaging Solutions produces about 85,000 tons of packaging per year. This makes for a turnover of 70 million euros, which is mainly achieved in sectors such as vegetables, meat and chicken.
The acquisition of SolidPack adds 175 employees, 65,000 tons of packaging and more than 50 million euros in turnover. Core markets are in the meat, fish and flower industries. With this transaction, Smart Packaging Solutions takes a leading market position in Europe.
More expertise under one organisation
VPK's long-term vision ensures a sustainable investment policy is in place. Divisions within the group are guided with great autonomy and room for entrepreneurship. Centralised services such as finance and engineering support the operational functioning of the business units. With this durable growth strategy, VPK now intends to further develop the solid board packaging division.
The joined forces also make for strong complementarity. Johan De Neef, BU Manager at Smart Packaging Solutions: "We complement each other very well. Our customers are predominantly located close to home, Solidpack has a strong portfolio in overseas exports. This complementarity also applies to the sectors to which we deliver. We now wish to bundle this expertise and experience to be able to offer our customers even better service."
Specific markets, but with global distribution
Solid board is high quality cardboard with a very compact and flat structure, with a good resistance to humidity and excellent printability. Applications are mainly found within the agro-industry. The compact nature lends itself perfectly for overseas exports. Irish lamb, Dutch cucumbers and Belgian chicken are typical export products packed in solid cardboard.
VPK Packaging Group is a manufacturer of sustainable packaging products with 46 production sites in 16 countries. 4,800 employees are responsible for the production of recycled paper, corrugated board, solid board and tube packaging. Paper is exclusively produced from recycled fibres. All packaging is completely recyclable. In 2016 the group passed the turnover milestone of 1 billion euros. The head office is located in Aalst, Belgium. www.vpkgroup.com
About Smart Packaging Solutions
Smart Packaging Solutions is the solid board division of VPK Packaging Group. This separate business unit has two Belgian locations, with about 250 employees in total. The department is currently busy expanding its capacity through investments in and optimisation of current plants. www.smart-packaging-solutions.com
SolidPack produces solid board packaging with sales spread across segments within the food industry, in the Netherlands, Europe and outside. Founded in 1921, the company boasts on solid experience within the sector. An existing investment programme will further increase efficiency for the next few years.
If you require any further information, please contact: Liesbeth Roelandt Communication Manager
00 32 52 33 93 81