May 3, 2018 – The Mondi Group, a global leader in packaging and paper, has signed an agreement to acquire 100 per cent of the outstanding shares in the National Company for Paper Products and Import & Export SAE (NPP) in Egypt.
The agreement is for a total consideration of 23.7 million Euros on a debt and cash-free basis.
Based in Giza, near Cairo, NPP is a privately-owned industrial bags producer that serves mostly regional customers. For its year ending Dec. 31, 2017, the company generated revenues of 29 million Euros.
Mondi is a leading industrial bags producer in the Middle East, operating four plants in the region.
“The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers,” Erik Bouts, CEO of fibre packaging for the Mondi Group, said.
The transaction is subject to customary closing conditions and is expected to be completed during the first half of 2018.
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