OptiGroup has closed an acquisition of Dutch packaging distributor Packagegroup Moonen following approval by the Dutch Competition Authority.
OptiGroup and Moonen signed the acquisition agreement last month.
Founded in the 1950s, Moonen designs, develops and distributes food and non-food packaging, as well as hygiene products, disposables and packaging materials to the retail, food, hospitality and catering industries. It aims to deliver cost-effective and environmentally friendly packaging solutions.
The firm currently employs around 80 workers and saw revenues of €51m last year.
At the time of signing the deal, OptiGroup president and CEO Christoph Sander said: “We have followed Moonen Packaging for a long time as a European leader in sustainable packaging, with a strong market position in the Benelux and a long history of developing innovative products and services.”
This move represents OptiGroup’s fourth recent acquisition following the purchase of Telpak and Mercamer in Finland, and Proxima in Romania.
Moonen Packaging will continue to operate under the leadership of Gé Moonen, who has developed the company for the last 12 years.
Financial terms of the transaction have not been disclosed.
OptiGroup distributes business essentials as part of safety, facility, industrial packaging and printing and creative solutions.
The company’s net sales for last year stood at €1.5bn.