Fortaleza Capital exclusive corporate finance adviser to P. Van De Velde Group on the acquisition of Veerkarton
About Veerkarton: Veerkarton, established in 1956 as a paper wholesaler by Willem van ‘t Veer in Assendelft (the Netherlands), shifted its focus over time to the design, production and distribution of cardboard packaging, mainly for the food industry. Design, production and storage are all carried out in-house, which allows Veerkarton to be flexible and to produce according to the highest possible standards (BRC packaging grade AA).
With its 70 employees Veerkarton produces folding carton packaging in small and medium-sized runs for packaging wholesalers, (food) production companies and retail companies. The company has long-term relationships with its major clients, going back as far as 40 years, which are predominantly based in the Netherlands, Germany, France, Austria, Scandinavia and Belgium. In addition to its headquarters and production facilities in Assendelft (near Amsterdam) Veerkarton has a sales office in Oeding Südlohn (Germany), close to the Dutch-German border.
With this acquisition, P. Van de Velde further expands its folding carton activities in the Northwest European market.
About P. Van De Velde Group: P. Van De Velde Group is an international, family-owned business group that focuses on the processing and development of carton and carton packaging of exceptional quality. The group has a long-term growth strategy and an expansionary 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.
With the assistance of Fortaleza Capital, P. Van De Velde Group has in recent years acquired – in addition to Veerkarton – the Netherlands-based folding carton companies Vekopak based in Tilburg, Wesly Printing & Packaging based in Maastricht and Koninklijke Schut (Royal Schut) based in Eerbeek as well as the Germany-based folding carton company Fritz Nießen Bergische Kartonagenfabrik based in Velbert.
Combining these complimentary enterprises into one strong organisation offers the group new opportunities to embrace the pan-European market shift toward folding carton packaging. The folded carton packaging is mainly distributed throughout the food, drink and healthcare markets. In addition, P. Van De Velde Group produces solid carton packaging in its factory in Wetteren (Belgium) and in Poznan (Poland). P. Van De Velde Group realises annual turnover of c. €130 million with around 700 employees.
Veerkarton’s location will continue to operate in the current form and at the same address in Assendelft (the Netherlands). The company’s current management team will remain responsible for daily business operations.