VPK acquires Peterson Packaging’s corrugating activity

3 oktober 2016

VPK acquires Peterson Packaging’s corrugating activity

Expansion into Scandinavian markets

Aalst, Belgium, October 3rd 2016 – VPK Packaging Group has completed the acquisition of Peterson Packaging’s corrugating activity. 6 facilities in Norway, Sweden and Denmark will be run as an empowered business unit under the dedicated brand name Peterson within the VPK group. With the new acquisition consolidated turnover of VPK Packaging Group will amply exceed  the 1 billion EUR milestone.

The acquisition of the 6 Scandinavian based facilities fits into VPK’s strategy to increase its geographical coverage,  providing European customers with high quality corrugated packaging. The newly acquired business unit will expand this activity into the Scandinavian market. The total revenue of Peterson’s corrugating division reached 150 million EUR in 2015.

Peterson will be led as an empowered and independent business unit keeping the strong local brand  supported by VPK’s solid expertise. This is similar to VPK’s other business units such as Rigid (UK & Ireland), Ondulys (France) and Aquila (Poland). Maintaining close customer intimacy in the local markets combined with  European coverage  remains the common denominator in the group’s business development. Dan Johannessen will fulfill the role of Managing Director and lead the Scandinavian Business Unit. Through VPK’s international alliance, Blue Box Partners, corrugating activities will henceforth stretch out from Norway to Spain and from Ireland to Romania through a dense network.

Turnover milestone thanks to proven growth strategy

VPK has successfully adopted a sustainable growth strategy during recent decades. By combining greenfield start-ups in countries with growing purchasing power and acquisitions in stagnating areas, the group has managed to experience strong growth while maintaining balanced risk levels. The privately held group expects its consolidated turnover to exceed amply the 1 billion EUR milestone with this new acquisition.

“Peterson Packaging is a leading provider in Scandinavia, servicing important customers in various markets such as food, drinks and FMCG. We are looking forward to continuing these activities, improving service levels and further developing wherever possible. Peterson’s long term business presence and close customer relationships fit in neatly with VPK’s sustainable growth approach. I am convinced that strengths of two proven companies will be combined in the new VPK Peterson brand”, explains CEO Pierre Macharis.

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About VPK Packaging Group

VPK Packaging Group is a packaging supplier with 45 production  sites in 16 countries and 4800 FTE’s. The company manufactures paper, corrugated board, solid board and cores. Paper production is based solely on recycled fibres. All packaging produced is fully recyclable. In 2015 the group achieved a turnover of 946 million EUR. The head office is located in Aalst, Belgium. www.vpkgroup.com

 

About Peterson Packaging

Peterson Packaging is one of the largest Scandinavian networks for sustainable corrugated packaging with a presence in Norway, Sweden and Denmark, and 800 FTE’s. In 2015 the activities in question achieved a turnover of 150 million EUR. www.peterson-packaging.com

For further information, please contact:

VPK Packaging Group

VPK Peterson

Pierre Macharis

CEO

Pierre.macharis@vpk.be

00 32 52 26 12 08

 

Dan Johannessen
Business Unit Manager
dan.johannessen@petersonpackaging.se
00 46 707 24 71 87

Liesbeth Roelandt
Communication Manager

Liesbeth.roelandt@vpk.be
00 32 52 33 93 81
00 32 479 21 52 48