2nd Jun 2016 07:55
LONDON (Alliance News) - Anglo-South African packaging company Mondi PLC on Thursday said it has acquired Kalenobel for EUR90.0 million from private equity company ARGUS Capital and one of the company's founders.
Kalenobel is a Turkish company which makes flexible consumer packaging for ice cream and other applications, in addition to aseptic cartons. The group is based in Istanbul and operates two manufacturing sites in the Turkish capital.
"The acquisition of Kalenobel supports the growth of our consumer packaging business, broadening our product portfolio and geographic reach to better serve our customers in high-growth markets," said Mondi Chief Executive David Hathorn.
Mondi shares were up 0.2% to 1,330.00 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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