South Korea’s Hansol Paper has acquired Dutch self-adhesive label producer Telrol Group as part of a move into the European label market.
Hansol Paper is Korea's largest paper manufacturing company with annual revenue of two billion USD and total assets of three billion USD as of December 2013.
Hansol Paper is capable of annually producing approximately two million tons of printing and writing paper, duplex board, container board, specialty paper, thermal paper and several other types of papers. Hansol Paper exports more than 50 percent of its products worldwide.
Its mid-term goal is to generate sales revenue of three billion USD by 2016 through differentiated products and services.
The Telrol Group comprises of Peha Labels, BioLabel, HACCP Label, LMG Ribbons, Kolibri Labels and Q-Tronics, and is the market leader in the Benelux for self-adhesive labels. It services the markets for food, retail, cosmetics, pharma, home and personal care, logistics and the chemical industry.
Hansol Paper said the intention of the purchase is to enter the European label market. Sang-Hun Lee, chief executive officer (CEO) of Hansol Paper, said: ‘The objective of this acquisition will be to enter into the fast growing label business and to ensure Telrol’s further growth with Hansol Paper’s experience and core competency.’
Hansol Paper acquired Schades Group, a thermal paper specialist, in September 2013, and said this additional acquisition will create a ‘one-of-a-kind’ business to service the POS receipt and self-adhesive label markets for the retail business across Europe.
Sang-Hun Lee added: ‘To strengthen its business portfolio, Hansol Paper became the first Korean paper manufacturer to enter into European market after acquiring the Schades Group, a European market leader in POS thermal paper converting and label manufacturing.
‘As part of its future business plan, Hansol Paper aims to grow its label converting business alongside its core business, all along with the paper converting operations of the Schades Group.’
The combined group of Telrol and Schades represents an annual turnover of approximately 150 million EUR, employs more than 400 people, converts approximately one billion square meters of paper annually, and has offices in Germany, Denmark, the UK, Belgium, the Netherlands, France, Switzerland, Finland and Sweden.
As a result of the acquisition, Telrol founder Ton Jacobs will retire and Hoessein Hadaoui will remain as CEO/part owner of the group.
Hadaoui said: ‘This acquisition will enable the company to further strengthen its competitive position and become a part of a significant pan-European group, as well as Hansol Paper’s competitive advantage and high quality standards strengthening our position.
‘Our growth strategy will include large scale national and international acquisitions in the label industry and the current employees will be retained and new opportunities for job creation are part of the future growth strategy.’
Peter Møller, CEO of Schades Group, concluded: ‘The acquisition by Hansol Paper will clearly strengthen the competitive advantage not only for Telrol but surely also for Schades and with the two legs in POS paper and self-adhesive Labels, Hansol Paper will become one of the leading and most progressive partner for the European retail business. It will surely be beneficial for all parties; customers, employees and shareholders.’
Pictured: Hoessein Hadaoui (left) and Ton Jacobs