UK-based pulp‚ paper and packaging group Mondi has announced that it successfully acquired Nordenia‚ a worldwide operating manufacturer of flexible packaging‚ technical films‚ and product components for €259m.
"The acquisition of Nordenia offers Mondi Group a unique opportunity to create a leading consumer packaging business‚ build on long term customer relationships across both businesses and establish a platform to expand further in high-growth emerging markets‚" the company said.
Mondi said all the conditions have been satisfied and the acquisition of 99.93% of the outstanding share capital of Nordenia International from funds managed by Oaktree Capital Management has been completed.
Mondi is an international packaging and paper Group, with production operations across 29 countries and revenues of €5.7bn in 2011. The Group’s key operations are located in central Europe, Russia and South Africa.