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Van Genechten acquires remaining 50 % stake at JSC VG Kvadra Pak AS

Van Genechten acquires remaining 50 % stake at JSC VG Kvadra Pak AS

Europe's largest independent folding carton packaging producer Van Genechten has acquired the remaining 50% of JSC VG Kvadra Pak shares, the leading packaging company in the Baltics, located in Riga. Thus, Van Genechten now owns 100% of the shares.

VG Kvadra Pak will continue to focus on innovative packaging with excellent quality and service. The full integration into the Van Genechten Packaging Group will further strengthen the competitiveness of the company and give access to international customers. Additional investments have already been approved to enhance this.

Kvadra Pak was founded in 1993 in Riga and became one of the leading folding carton packaging producers in the Baltic countries with the forecasted annual turnover for 2012 of  more than 11 Mio Euros, 125 employees and 5 000 tons of converted cardboard. Further growth of the company is expected. The company is specialized in innovative, value added, tailor-made and cost effective carton packaging for the food and non-food industry. More than 70% of products are sold to customers in Finland, Sweden, Norway, Denmark, Lithuania, Estonia, Poland, Russia, Belarus, Ukraine, Kazakhstan, Azerbaijan, Hungary and United Kingdom, the other 30% to local customers. VG Kvadra Pak is BRC, ISO, FSC and PEFC certified.

Van Genechten Packaging is a group comprising of 10 folding carton factories in 7 countries, serving the European consumer goods industry with cardboard boxes, micro flute packaging and packaging systems. Other activities of the group are Automation and Extrusion, which offer customized solutions for packaging machines and a broad range of barrier laminations both for the open market as well as for the group.The group’s annual turnover exceeds 300 million Euros, it converts more than 200 000 tons of cardboard a year and employs 1 600 people.

 

Media contact:

Mrs Heidi Vanspauwen

Van Genechten Packaging Group

Raadsherenstraat 2

B-2300 Turnhout

Phone: +32 14 40 36 40

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