Mondi completes Kalenobel acquisition

Mondi Group has completed its EUR90 million ($100m) acquisition of Turkish flexible packaging manufacturer Kalenobel.

Under the agreement, Mondi Group acquired a 90% stake in Kalenobel, which will be integrated into Mondi’s consumer goods packaging business and renamed Mondi Kalenobel.

Headquartered in Istanbul, Kalenobel operates two production facilities in Kırklareli, producing flexible packaging for ice cream, chocolate and confectionery, snacks, fruit juices, as well as powdered products and beverages. The company exports half of its production, mainly to Western Europe, the Middle East and North Africa.

Peter Oswald, CEO Mondi Europe & International, said the deal “allows us to offer customers a broader range of products and is in line with our strategy to grow Mondi’s consumer packaging business”.

Mondi’s consumer goods packaging business serves the pet care, food, home and personal care sectors. It has experience in the Turkish market through its network of corrugated packaging, containerboard and industrial bags plants.