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AR Packaging acquires Croatian folding carton products company
AR Packaging Group AB has acquired all outstanding shares in Istragrafika, d.d., a producer of high quality folding carton products for the tobacco, food and consumer goods segments. Istragrafika, headquartered in Kanfanar, Croatia, has a workforce of approx. 160 employees.
“AR Packaging has a strategic plan built on three pillars – further growth in Europe in selected business segments, global expansion with selected packaging solutions and further improved operational excellence and cost-efficiency. This approach has proven very successful and with the acquisition of Istragrafika we strengthen our presence and position further in selected segments”, says Harald Schulz, President and CEO of AR Packaging.
Istragrafika, the leading packaging company in Croatia, serves a broad customer base across several segments out of its production facility in Kanfanar. With its skilled workforce, the company has been able to attract and secure a variety of local and multinational customers, including global blue chip companies within markets segments such as tobacco and food service, among others.
Harald Schulz, President and CEO of AR Packaging, says: “We are very pleased to widen our European footprint with this important and strategic geographic expansion. Together with the highly experienced management team at Istragrafika, we are confident that we will continue to provide our – now joint – customer base with a sustainable supply of high quality products.”
Istragrafika was established in 1956 and previously owned by TDR, a subsidiary of British American Tobacco plc.
AR Packaging will consolidate the company from January 1st 2019. No consideration will be disclosed.