Italian producer Lucart Group has acquired the total capital of Bokk Paper, the main independent Hungarian player in the AfH tissue products market.
The name of the company has already been changed to Lucart.
Massimo Pasquini, chief executive of the Lucart Group, said: “We have had a good business relationship with Bokk Paper for over 10 years and thanks to its geographical location, market reputation and marketing strategy which align perfectly with our goals, it was the ideal acquisition for the expansion of our company in Central Eastern Europe.
“We believe that with the acquisition and integration of Bokk Paper into the Lucart Group will strengthen our presence in the Central Eastern European AfH markets by offering the best services and products to all current and potential new customers.”
Zsolt Király, one of the former owners of Bokk Paper, and business partner József Orlovits will remain as managing directors of the company.
Lucart is a Hungarian company located in Esztergom, 50 kilometres north of Budapest, operating in the tissue paper converting products sector, in the AfH market.
It employs 55 people and has a turnover of 7.5 million euros. More than one third of the turnover is in export sales to neighbouring countries.
Around 80% of the sales are from Bokk Paper branded products.
The Lucart Group has a production capacity of 310,000tpy of tissue, airlaid and MG paper.
