P. Van De Velde Group further enhances position in folding carton with Vekopak acquisition
Wetteren, 20 November 2018 ‒ P. Van De Velde Group has reached an agreement for the acquisition of 100% of the share capital of Vekopak, based in Tilburg (the Netherlands). Through this acquisition, P. Van de Velde Group further expands its folding carton activities, operating under the name Van De Velde Packaging. Recently, P. Van De Velde Group acquired the folding carton companies Bergische Kartonagenfabrik (Velbert, Germany), Wesly Printing & Packaging (Maastricht, the Netherlands) and Royal Schut (Eerbeek, the Netherlands). Combining these complimentary enterprises into one strong organisation offers the group new opportunities to embrace the market shift toward folding carton packaging and folding synthetics packaging.
Van De Velde Packaging is the folding carton department within P. Van De Velde Group and is active in Lichtervelde (Belgium), Kruishoutem (Belgium), Eerbeek (the Netherlands), Maastricht (the Netherlands), Tilburg (the Netherlands) and Velbert (Germany). The folded carton packaging is mainly distributed throughout the food, drink and healthcare markets. In addition, P. Van De Velde produces solid carton packaging in its factories in Wetteren (Belgium) and Poznan (Poland).
P. Van De Velde Group processes some 70,000 tonnes of packaging annually with around 400 employees. The acquisition of Vekopak adds another 60 employees and bolsters Van De Velde Packaging’s position in the market for custom-made folding carton packaging in small and medium-sized runs. Vekopak is specialised in the production of premium packaging and its applications include cold foil, spot UV varnish, gold varnish, relief varnish, soft touch varnish, foil print, window patching and embossing.
More expertise under one pan-European roof
As a family-run enterprise, P. Van De Velde Group has a long-term growth strategy and an expansive investment policy. Businesses within the group are led with considerable autonomy and leeway for local entrepreneurship while also benefiting from the support of centralised services.
Michel van Kuringe, one of the previous owners of Vekopak, in response to the sale of Vekopak: “Our product ranges are very complementary. We also share the same core values: craftsmanship, reliability, agility and service. The international client portfolio, scale and ambitions of P. Van De Velde Group offer our company long-term continuity, new avenues to grow and access to the experience and expertise of a large, international folding carton specialist.”
Vekopak will continue to operate in the current form and at the same location in Tilburg and its current management team, led by Michel van Kuringe and Marco Ruiter, will remain responsible for daily business operations.
Vekopak, established in 1991, has grown into a market player occupying a unique niche position in the packaging industry with an outstanding reputation. With its state-of-the-art machinery, Vekopak produces folding carton packaging for an extensive and international customer base in the tobacco, cosmetics, beverage and food industries. Vekopak products perform optimally in the areas of protection, logistics, use and communication power. www.vekopak.nl
Fortaleza Capital acted in this transaction as corporate finance advisor to the shareholders of Vekopak and NeXt Advocaten as legal advisor: www.fortalezacapital.nl; www.nextadvocaten.nl.
BarentsKrans acted as legal advisor to P. Van De Velde Group and Lansigt as financial advisor: www.barentskrans.nl; www.lansigt.nl.