June 4, 2018 – The Mondi Group has completed the acquisition of Powerflute.
All conditions related to the acquisition have been satisfied, Mondi reports. One hundred per cent of the outstanding shares of Powerflute have been acquired for a total consideration of €365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tons of high-performance semi-chemical fluting. The business will be integrated into Mondi’s Packaging Paper business unit.
“We are excited to have completed this acquisition, which supports our strategy of investing in high-quality packaging and paper assets, further broadens our containerboard product range, and extends our geographic reach,” Mondi Group CEO Peter Oswald said.
Powerflute Group Holdings Oy, was a division of Nordic Packaging and Container Holdings.
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