Swedishpackaging services firm AR Packaging Group has completed the acquisition of all outstanding shares in folding carton products maker Istragrafika for an undisclosed value.
Based in Kanfanar, Croatia, Istragrafika offers folding cartons to various industries including tobacco, food and consumer goods. It operates a production facility in Kanfanar and currently employs around 160 people.
AR Packaging president and CEO Harald Schulz said: “AR Packaging has a strategic plan built on three pillars – further growth in Europe in selected business segments, global expansion with selected packaging solutions and further improved operational excellence and cost-efficiency.
“This approach has proven very successful and with the acquisition of Istragrafika we strengthen our presence and position further in selected segments.”
“Together with the highly experienced management team at Istragrafika, we are confident that we will continue to provide our – now joint – customer base with a sustainable supply of high quality products.”
As the transaction is complete, AR Packaging will integrate the Istragrafika with the company starting 1 January next year.
Headquartered in Lund, AR Packaging Group consists of various companies including A&R Carton, Flextrus, CC Pack, SP Containers and Mediaköket.
The company’s core markets are in the folding carton and the flexible packaging segments in Europe. It currently operates 18 facilities across ten countriesand employs 3200 people.
In October this year, AR Packaging has started the process to prepare for an initial public offering (IPO) with an aim to list on NASDAQ Stockholm during next year.