January 24, 2019 – Austrian containerboard company Mayr-Melnhof Packaging has acquired TANN Group, also based in Austria, for approximately EUR 275 million.
TANN Group prints on and finishes externally sourced fine paper to produce tipping paper (cigarette filter paper). Annual sales of approximately EUR 230 million are generated by eight production sites in seven countries and a worldwide workforce of around 1,100 employees.
Through this acquisition Mayr-Melnhof Packaging will extend its present position in cigarette packaging, which the company says will strengthen its profitability along with the expansion of the value chain.
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