VPK Packaging Group has acquired the corrugating business of Scandinavian firm Peterson Packaging.

Financial details of the deal have not been revealed by the companies.

The acquisition includes six facilities in Norway, Sweden and Denmark, which will continue to run under the Peterson brand within the VPK Group.

"I am convinced that strengths of two proven companies will be combined in the new VPK Peterson brand."

VPK Packaging CEO Pierre Macharis said: “Peterson Packaging is a leading provider in Scandinavia, servicing important customers in various markets such as food, drinks and FMCG.

“We are looking forward to continuing these activities, improving service levels and further developing wherever possible. Peterson’s long term business presence and close customer relationships fit in neatly with VPK’s sustainable growth approach.

“I am convinced that strengths of two proven companies will be combined in the new VPK Peterson brand.”

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The new acquisition will help VPK Packaging Group to achieve a turnover above €1bn.

The acquisition will also enable VPK to expand its presence and business in the Scandinavian market.

Last year, Peterson’s corrugating division registered total revenues of €150m.

VPK Packaging combines greenfield start-ups in countries with growing purchasing power and acquisitions in more mature and stable growth areas.

The group aims to enhance its coverage and provide more Europeans with high-quality corrugated packaging products.