Paper and industrial packaging company Antalis has signed a binding agreement to acquire fellow packaging business Pakella.
Pakella is reportedly one of the leading distributors and manufacturers of made-to-measure industrial and food packaging in the Baltic region, with a turnover of €15m ($16.20m) in 2023.
Established in 1996, it operates across three distribution sites in the Baltic countries, namely Latvia, Lithuania, and Estonia, where it employs a total of 60 people.
The acquisition is contingent upon the fulfilment of standard closing conditions, including the approval of the Latvian competition authority.
The financial terms of the acquisition have not been disclosed.
The addition of Pakella will strengthen Antalis’ strategy to improve its industrial and food packaging offerings in the Baltic countries.
Antalis CEO Hervé Poncin said: "The acquisition of Pakella is a great opportunity. It will enable Antalis to significantly expand its existing packaging distribution business in Latvia, Lithuania, and Estonia. It demonstrates the ongoing commitment to our customers in the Baltic countries following our acquisition of Hansapakend in Estonia in 2015."
The acquisition of Pakella comes shortly after Antalis acquired 100 metros, a Portuguese packaging company specialising in the distribution and conversion of packaging materials such as cardboard, film, foam, and bubble wrap.
Pakella's board of directors member Janis Murmanis said: "By joining Antalis, Pakella will be able to broaden its product portfolio and continue its development thanks to a wider product range and new international customers."
