Europe’s largest independent folding carton producer „Van Genechten” has become an owner of 100% shares of “VG Kvadra Pak”. Office partner Ieva Azanda represented seller in the above transaction.
“Van Genechten Packaging” N.V. has acquired 50 % shares of AS “Kvadra Pak” in 2010, but other 50 % were hold by previous shareholders.
Kvadra Pak was founded in 1993 in Riga and has become the leading folding carton packaging producers in the Baltic countries. Company is planning to reach EUR 11 million turnover, employ 125 employees and 5000 tons of converted cardboard in 2012.
Van Genechten Packaging is a group of 10 folding carton factories in seven countries, which serves the European consumer goods industry with cardboard boxes and microwave- packaging and packaging systems.