Mondi Group, a paper and packaging group based in South Africa, will acquire Beepack, a corrugated packaging solutions provider, from a private investor.
The transaction is subject to customary closing conditions and is expected to be closed in the last quarter of 2016.
It involves a consideration of RUB2.82bn ($45m), which will be paid on a debt-and-cash-free basis.
The acquisition of the Russian packaging firm is in line with Mondi Group’s strategy to boost its corrugated packaging business in Central and Eastern Europe.
Beepack’s plant located in Russia’s Lipetsk region manufactures corrugated packaging trays and boxes for food and agricultural products.
Bruni Glass, an Italian glass packaging company, will be acquired by North America’s Berlin Packaging, a leading supplier of plastic, glass, and metal containers and closures.
The new entity will be named Bruni Glass, A Berlin Packaging Company and have access to Berlin’s service divisions and sales and warehouse locations.
Berlin Packaging will also acquire all of Bruni’s locations as part of the transaction.
Image: Beepack offers a range of corrugated packaging solutions for food and agricultural products. Photo: courtesy of Lynn Greyling.