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Mondi Group completes acquisition Turkey’s packaging company Kalenobel

by ChemOrbis Editorial Team -
  • 04/08/2016 (11:46)
According to a statement by Odin Financial who served as the financial advisor during the transaction period, the sale of a 90% share of Kalenobel Ambalaj Sanayi ve Tic. A.Ş. ("Kalenobel"), one of primary flexible packaging companies in Turkey, to an international packaging and paper company Mondi Group ("Mondi"), was completed. The enterprise value was around €100 million.

Kalenobel is a fast-growing packaging company in Turkey focused on the manufacturing of flexible consumer packaging for ice cream and other applications in addition to aseptic cartons. The company is the European market leader in flexible consumer packaging and provides services for international and regional FMCG companies.

Mondi, serving in more than 30 countries with around 25,000 employees, is an international packaging company. The company’s 2015 revenue was €6.8 billion and has key operations in several regions including Central Europe, Russia, North America and South Africa.

The transaction received the required regulatory consents and was officially closed on July 12, 2016 after it was signed on June 2, 2016.In terms of the size of the deal, this has been the largest transaction in the Turkish packaging industry in the last three years.
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