Mondi Group acquires Uralplastic
Packaging and paper business Mondi Group has acquired ZAO Uralplastic-N (Uralplastic) from joint stock company Rusnano and a private investor for an undisclosed sum.
The move is part of Mondi’s strategy to expand its consumer goods packaging business through organic growth and acquisitions.
Uralplastic operates one plant in the Ural region of Russia, producing a range of consumer flexible packaging products for food, hygiene, homecare and other applications.
For the year to 31 December 2015, Uralplastic generated revenues of RUB1,988 million ($31.5m) and adjusted EBITDA of RUB318m ($5m).
“The acquisition enables us to strengthen the service we provide to our existing customers in this growing market and it gives us the opportunity to broaden our customer base in the region,” said Peter Oswald, CEO at Mondi Europe & International.
Alexey Goncharov, co-owner of Uralplastic-N, added, “I’m proud of what we’ve achieved with Uralplastic. It has grown significantly over the years and it now joins a reputable international group that will ensure the future success of the business.”
Mondi operates a mill in Syktyvkar, producing uncoated fine paper and containerboard, a packaging plant in Pereslavl which manufactures multi-layer printed packaging materials for consumer products as well as sales offices in Moscow.
