UPM Raflatac announces that it has signed an agreement to acquire the business operations of Gascogne Laminates Switzerland SA. The parties have agreed not to disclose the purchase price. The closing of the acquisition is subject to regulatory approvals.
Gascogne Laminates Switzerland is the labelstock business of Gascogne Group, a major player in the French wood industry. Gascogne’s labelstock operations’ sales totaled EUR 44 million in 2011. The company employs about 110 people in its factory in Martigny, Switzerland.
"UPM Raflatac in Europe has focused in the past years especially in growth in special labelstock products. Gascogne Laminates has a strong and long-standing brand in this product area in Europe and through this acquisition we are proud to add those capabilities to our product platform," said Tapio Kolunsarka, Senior Vice President, Europe, Middle-East and Africa for UPM Raflatac. "As a result of this transaction, customers will enjoy stronger speciality offering available through UPM Raflatac’s extensive distribution network."