Swedish envelope group Bong is to acquire German manufacturer RCT Kuvert in a deal believed to be worth about €2.5M. The deal is expected to complete by the end of January.
RCT is one of Europe's 10 largest envelope makers, with annual sales of around €27M. Its production is based in Hilden, some 20 km from Wuppertal, where Bong has its largest production facility.
"The acquisition will increase the Bong Group's volumes by more than 20 per cent and strengthen our position in Germany and other European envelope markets," says Bong president and ceo Anders Davidsson. Its new and modern machinery will also enable us to further improve our manufacturing productivity and postpone replacement investments into the future. The geographical proximity to our factory in Wuppertal and the synergy potential are other key motives for the acquisition."
Bong has an annual turnover of approximately SEK 1.8 billion, some 1,300 employees and factories in Sweden, Denmark, Norway, Finland, Poland, Germany, Belgium, the UK, Ireland and Russia.
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