ÅR Packaging completes MWV takeover in Europe

ÅR Packaging Group has completed its previously announced acquisition of the European tobacco, chocolate confectionery and general packaging operations from MeadWestvaco (MWV).

ÅR Packaging will operate the acquired business under the A&R Carton brand

The acquired operation includes three plants in Graz in Austria, Krakow in Poland, and Moscow in Russia, and certain additional carton business and related machinery in Svitavy, Czech Republic.

ÅR Packaging will operate the acquired business under the A&R Carton brand. The business will be consolidated as from May 1.

Harald Schulz, ÅR Packaging chief executive officer, said: ‘We are happy to finalize this strategic move for ÅR Packaging where we establish an even stronger position as one of the leaders in the tobacco segment while enhancing the strategic position of key accounts in the confectionery and consumer goods segments.

‘We elevate ÅR Packaging to a top three position in the European folding carton market with a total group net revenue of approximately 550 million EUR.

‘I look very much forward to integrating the newly acquired operations. This is an important milestone in realizing our growth strategy in selected market segments.’

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