The acquisition of Dentaş Ambalaj Ve Kağit Sanayi A.Ş, will increase sales volume for Dunapack by 33%, to 1.4bn m2 (700,000 tonnes).
Dunapack, part of Prinzhorn Holding, will be represented in nine countries, with 14 corrugated packaging plants.
End markets include the dairy, confectionery, beverage and fruit and vegetables industries.
The firm is also investing €50m into the modernization of three main production facilities in Austria and Poland.
“As a rapidly growing market Turkey is especially attractive for Dunapack. We are well established in the Black Sea region: In the beginning of November we started operations at a new packaging plant in Kherson in Southern Ukraine,” said Alexander Enzenberg, managing director at Dunapack Packaging.
“In addition, we have production facilities in Romania and Bulgaria. After the acquisition we will be present with six production sites in the countries bordering the Black Sea. Turkey therefore is a logical addition for Dunapack in this geographical region.”
Dentaş Ambalaj serves 3,000 clients, mainly from the agriculture and food and beverage sectors.
The company operates three Turkish production sites: Denizli (corrugated packaging and paper), Adana (corrugated packaging) and Corlu (corrugated packaging). A new paper machine is currently being installed at the Corlu plant and will commence operations in spring 2013.
"The structure of Dentaş Ambalaj with its three divisions – recycling (collection and trading of recycled paper), containerboard and corrugated packaging – is similar to that of Prinzhorn Holding and does represent a perfect fit to our group,” said Cord Prinzhorn, CFO of Prinzhorn Holding.
“With the acquisition we can exploit synergies in all three divisions and can therefore dynamically increase our strong market position in the region and further develop the high quality and service standards of our group.”
Prinzhorn Holding is headquartered in Oberwaltersdorf, Austria and is structured in into: Hamburger Recycling Group (collection and trading of waste-paper), Hamburger Containerboard (production of containerboard) and Dunapack Packaging (corrugated packaging solutions).