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Mondi to acquire Olmuksan, Turkish corrugated packaging player

Christian Fernsby |
Mondi has agreed to acquire 90.38% of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper for a total consideration of €66 million.

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The implied enterprise value on a 100% basis would amount to around €88 million.

Olmuksan is a leading and well-established corrugated packaging player in Turkey, listed on the Istanbul stock exchange.

Its network of five plants provides a diverse customer base with high-quality sustainable packaging for food, beverage, agriculture and industrial applications.

For the twelve months ended 30 September 2020, the Company produced 256 thousand tonnes of corrugated packaging and generated revenues of TRY1,093 million (€150 million).

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