Fortaleza Capital acted as exclusive corporate finance adviser to the shareholders of SolidPack on the sale of the company to VPK Packaging Group.
About SolidPack: SolidPack, founded in 1921, produces solid board packaging with sales spread across segments within the food industry in the Netherlands, Europe and worldwide. Solid board is high quality cardboard with a very compact and flat structure, with a good resistance to humidity and excellent printability. SolidPack has a long-standing track record in the market and an existing investment programme at the company will further increase efficiency over the next few years. SolidPack adds 175 employees, 65,000 tons of packaging and more than €50 million in turnover to VPK.
About VPK: VPK Packaging Group is a manufacturer of sustainable packaging products with 46 production sites in 16 countries. 4,800 employees are responsible for the production of recycled paper, corrugated board, solid board and tube packaging. Paper is exclusively produced from recycled fibres. All packaging is completely recyclable. In 2016 the group passed the turnover milestone of €1 billion. The head office is located in Aalst, Belgium. With this move VPK will further expand its solid board segment – known under the brand name Smart Packaging Solutions. With 250 employees, Smart Packaging Solutions produces about 85,000 tons of packaging per year with a turnover of €70 million, which is mainly achieved in sectors such as vegetables, meat and chicken.