Lebanon-based Gemayel Freres & Chaoui Industriel Group has acquired NorPaper Group from OpenGate Capital for an undisclosed sum.
Image: Gemayel Freres & Chaoui Industriel Group has acquired NorPaper Group from OpenGate Capital. Photo: courtesy of rawpixel / Unsplash.
NorPaper is specialized in the manufacturing of white top testliner paper, a component of carton packaging. It is majorly marketed to European packaging manufacturers.
NorPaper CEO Laurent Glachant said: “NorPaper has grown into a highly regarded business, recognized for producing a variety of white top testliner and recycled paper materials for our customers.”
OpenGate Capital acquired NorPaper from Canadian paper manufacturer Cascades in 2011.
To support NorPaper business, OpenGate also acquired DS Smith Packaging Papeterie de Nantes SAS (Nantes) in 2015.
OpenGate included the Nantes business in NorPaper, which helped expand product portfolio and increase production capacity of white top testliner paper to 50kT per year.
With an annual capacity of 200kT, the combined NorPaper and Nantes business turned as a major top testliner paper producer in France and Europe.
NorPaper operates two production facilities in France, of which once is Blendecques and the other one in Nantes.
NorPaper is located in the center of Europe, as well as situated close to road networks and ports.
With its strategic geographic location, NorPaper offers products and services to the French, European and overseas markets.
The company produces paper by using recycled cellulosic fiber, and markets its products under brands such as Nebraska, Neva und Alpaga.
NorPaper also recently introduced two customized products such as Nebraska Print and Ecowhite.
In December 2017, OpenGate also sold European PVC compounding business, Benvic, to Investindustrial.
OpenGate founder and CEO Andrew Nikou said: “As we transfer the business to Gemayel & Chaoui Industriel Group, we recognize that under the new leadership, NorPaper has many new exciting years ahead.
“I want to thank the entire NorPaper team led by CEO, Laurent Glachant, for their dedication and hard work in driving this business forward.”