Sofidel has continued to grow in Europe after it announced the acquisition of the Forest brand and converting facilities in Hungary.
The operation, made with Forest Papir Kft, involves the acquisition of new customers and the Forest brand, an overall converting production capacity of 30,000 tonnes and a converting plant in Piszke.
The framework of the agreement also includes buying approximately 90,000 square metres of land.
Sofidel has acquired:
• finished product sales (brand segment and private label segment);
• the Forest brand, one of the main brands on the Hungarian market;
• the Piszke plant (with a Futura line for toilet paper rolls) north-west of Budapest near the Slovakian border;
• the line in the Lábatlan plant (one, Perini, for toilet paper and kitchen rolls) and the lines in the Leányvár plant (several lines, for folded product: handkerchiefs and paper napkins), and the rent of the relative plants for 3 years;
• approximately 90,000 square metres of land next to the Piszke production site.
The acquired overall converting production capacity is equal to 30,000 tonnes and 200 workers are involved.
Luigi Lazzareschi, Sofidel Group chief executive, said: “With this acquisition in Hungary, through our production activity, we are staking an area of eastern Europe that was hitherto left uncovered by us.”