AR Packaging Group has acquired all outstanding shares in Croatia-based Istragrafika, a producer of high quality folding carton products for the tobacco, food and consumer goods segments.
Istragrafika serves a broad customer base across several segments out of its production facility in Kanfanar. With a skilled workforce of approximately 160, the company has been able to attract and secure a variety of local and multinational customers, including global blue chip companies within markets segments such as tobacco and food service, among others.
Harald Schulz, president and CEO at AR Packaging, commented: ‘AR Packaging has a strategic plan built on three pillars – further growth in Europe in selected business segments, global expansion with selected packaging solutions and further improved operational excellence and cost-efficiency. This approach has proven very successful and with the acquisition of Istragrafika we strengthen our presence and position further in selected segments.’
Schulz continued: ‘We are very pleased to widen our European footprint with this important and strategic geographic expansion. Together with the highly experienced management team at Istragrafika, we are confident that we will continue to provide our – now joint – customer base with a sustainable supply of high quality products.’
Istragrafika was established in 1956 and previously owned by TDR, a subsidiary of British American Tobacco. It has been consolidated into AR Packaging as of January 1, 2019.