The Cardbox Packaging Group, which has locations in Austria, Serbia, Czechia and the USA, has confirmed the acquisition of Valuepap GmbH, which was founded in October 2015. Closing of the deal will conclude on 31st December 2021.
For almost a year now, Valuepap GmbH and its 18-strong workforce has been based at the Cardbox Packaging location in Pinkafeld, producing paper cups with a sustainable barrier coating, designed primarily for the ice cream, honey and dry foods market segments.
Klaus Hockl, Managing Director, Cardbox Packaging Holding, said, “The acquisition of Valuepap is yet another significant milestone in the company’s history, allowing us to implement both market and production related synergy effects. The acquisition is the logical consequence of our year-long collaboration. The company’s years of expertise in developing sustainable cup solutions is an important strategic addition to our own innovative, environmentally friendly barrier solutions. The paper cups themselves are also the perfect addition to our own product range of sustainable solutions, such as the Eco Tray or the cardboard spoon.”
Going forward, founder and former majority shareholder Hans Pridal will assume responsibility for the ‘Sustainable packaging solutions’ product division within the Cardbox Packaging Group and together with the Cardbox Packaging team, will ensure that the integration of Valuepap into the Group is seamless.