Van Genechten Group acquires Ostprint in Russia
Turnhout, 19 June 2014 – The Van Genechten Group has acquired Ostprint LLC, a specialised folding carton producer in the Moscow region. Already approved by the Russian Anti-Monopoly body (FAS), the acquisition takes effect immediately. Following the acquisition of VG Contours ZAO 10 years ago, this new acquisition expands the Belgian Group’s presence in Russia.
The right strategic match
With a steadily growing turnover in excess of € 8 million, Ostprint focuses on high added-value carton packaging for the Russian market, serving both international and regional FMCG customers. According to Frederic de Somer, Van Genechten Managing Director, the strategic match with Van Genechten Packaging (VGP) – an independent innovative folding carton producer – is obvious:
“We invest in high-growth markets, following our international customers’ expansions, and create a richer, broader offer for our regional customers too. By bringing our innovation, quality, operational excellence and supply chain expertise to the Russian market, we are reinforcing our commitment there. We are glad to have Ostprint’s experienced personnel on board to develop our activities further in this growing market.”
Making today's high packaging standards work
Ostprint employs 85 people and operates in food and non-food folding carton segments. Well-equipped with a (pre)press department and UV, hot foil, label and window patching possibilities, it meets today's standards successfully. Ostprint will now benefit fully from VGP’s international know-how, commercial network, operational excellence and solid financial resources. It will continue to invest in production equipment and logistics, while focusing on quality, service and efficiency. Ostprint and VG Contours realise combined sales of more than € 20 million.