South Africa-based packaging and paper company Mondi Group has entered a deal to acquire ZAO Uralplastic-N (Uralplastic) from Russian firm Rusnano and an undisclosed private investor.

Uralplastic currently caters to both local and international clients, and operates one plant near Ekaterinburg in the Ural region of Russia.

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The company also produces a range of consumer flexible packaging products for food, hygiene, homecare and other applications.

"The acquisition of Uralplastic supports the development of our consumer packaging business and strengthens our presence in the Russian consumer packaging market."

Last year, Uralplastic generated €29.2m revenues and earnings before interest, taxes, depreciation and amortisation (EBITDA) of €4.7m.

Mondi Group chief executive David Hathorn said: “The acquisition of Uralplastic supports the development of our consumer packaging business and strengthens our presence in the Russian consumer packaging market, complementing our existing plant in Pereslavl, near Moscow and allowing us to improve our offering to customers in this growing market.”

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Subject to customary closing conditions, the deal is expected to be completed later this year.

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The company recently signed an agreement to acquire 90% of the outstanding share capital in Turkish consumer packaging company Kalenobel from Argus Capital and Olcay Hephiz for around €90m.

Mondi Group currently employs around 25,000 people across more than 30 countries in Europe, North America and South Africa.

The company provides more than 100 packaging and paper products, which have been adapted into more than 100,000 different solutions for customers, end consumers and industrial end uses.