It has been widely reported that VPK Group is looking to acquire part of Peterson, the Scandinavian corrugated paper and packaging group. Although neither party has issued any press releases, it has been confirmed that the companies are in discussions and have issued Heads of Agreement. Closing of the negotiations are expected soon, subject to the necessary regulatory approvals, at which time both parties will issue formal statements.
It is believed that the acquisition focusses on the corrugated activities of Peterson. This potentially includes six corrugated plants; three of the plants are located in Norway, two in Sweden and one in Denmark. The paper mill operated by Peterson in Norway is not expected to be included in the deal.