KSP acquisition to help Mondi better serve its customers in the US and Asia
Mondi Group has signed an agreement for the acquisition of 95 percent of the outstanding share capital in KSP, a flexible packaging converter based in South Korea, and related interests.
KSP is a flexible packaging company specialized in the production of high-quality spouted and retort stand-up pouches for the food, pet food and beverage industries. Its main manufacturing site is near Seoul, South Korea, and it also has an interest in a plant near Bangkok, Thailand. KSP exports approximately two thirds of its production, mainly to the US, Europe and other Asian countries.
Mondi said KSP offers an ‘excellent product fit’ with its own stand-up pouch operations in Korneuburg, Austria and Jackson, US, and will enable Mondi to better serve its customers in the US and Asia.
David Hathorn, Mondi Group CEO, said: ‘This acquisition further supports Mondi's strategy to develop in high value-added, high-growth markets in our Consumer Packaging business.’