Prinzhorn Group, having a strategic long term interest in Italy, has made a proposal to acquire corrugated packaging plant Scatolificio La Veggia S.p.A., Roteglia, which is part of the La Veggia Group of companies in the course of a restructuring process under Italian law.
Prinzhorn and SLV will take the necessary steps in the coming months in order to facilitate and prepare for the final take-over, which is expected in the course of 2023 after homologation by the Court. The transaction is – inter alia - subject to court approval and possible regulatory clearances.
Financial details were not disclosed. The Prinzhorn Group With its 10,000 employees in 16 countries, the Prinzhorn Group is a European market leader in the packaging, paper and recycling industry. With an annual turnover of 2.3 billion euro, the Group ranks number three in Europe in this segment. The family owned Prinzhorn Group has its headquarters in Vienna, Austria and is structured in three divisions: Dunapack Packaging (corrugated packaging solutions), Hamburger Containerboard (production of containerboard) and Hamburger Recycling Group (collection and trading of secondary raw materials).