Fortaleza Capital exclusive corporate finance adviser to Van De Velde Packaging Group on the acquisition of

Transaction background: Van De Velde Packaging Group has reached an agreement for the acquisition of 100% of the share capital of (GKB), based in Groningen (the Netherlands). By joining forces GKB and Van De Velde Packaging Group aim to become the largest producer of cardboard coffee cups in Europe, with GKB taking the lead in the rollout from its brand new head office in Groningen. Demand for cardboard coffee cups is growing strongly, driven by the switch from plastic cups to cardboard cups.

Mike Lubben, CEO of GKB, comments on the transaction: “The merger with the Van de Velde Group will further strengthen GKB’s market position. We look forward to the collaboration between our production locations in the Netherlands and China with the group’s subsidiaries that are active in the cardboard cups market, including with Ekol Ofset in Turkey. Due to GKB’s enormous expansion drive and the strong demand for extra cups production capacity, there are already advanced plans for a new production location in Poland as well as a logistics hub in France.”

About GKB: GKB, established in 2011, is a fast-growing organisation that designs, produces and distributes cardboard coffee cups. With a turnover of more than € 55 million, GKB is by far the market leader in the Benelux and is growing rapidly in other European countries including in France and Germany. All coffee cups are produced in the company’s own production facilities in the Netherlands and China.

GKB stands for swift delivery of high-quality coffee cups at competitive prices and continuously invests in its state-of-the art machine park. 

GKB will continue to serve its customers in its familiar way from Groningen and its current management team led by Mike Lubben will remain responsible for the company’s daily business operations.

About Van De Velde Packaging Group: Van De Velde Packaging Group produces folding carton packaging, cups and microflute packaging, stickers, cards and catalogues, solid cardboard packaging and packaging machines. The group currently has 17 branches in Belgium, the Netherlands, France, Germany, Poland, Turkey and Italy. In addition to the aforementioned countries, the group’s sales organisation also encompasses Spain, Portugal and the United Kingdom. Van De Velde Packaging Group has approximately 1,310 employees and the acquisition of GKB adds another 120 employees of which 50 employees are based in the Netherlands.