Fiebinger Polak Leon Attorneys-at-Law advise Dunapack Packaging Division, which is part of the Austrian Prinzhorn Holding, on takeover of Corrugated Board Producer in Greece
The acquisition of Viokyt Packaging S.A. shall result in an increase of production capacity by the threefold and a strengthening of Prinzhorn Holdings’ position amongst the market leaders in Europe. Bert Ortner (49) oversaw the transaction.
Viokyt Packaging S.A. is a well-established family business with headquarters in Schimatari (about 60 kilometres north of Athens), that has specialized in the production of printed corrugated packaging. With a production capacity of 50 million m2 of corrugated packaging per year the company has been among the largest packaging manufacturers in Greece for over 40 years.
Dunapack Packaging Division is part of the Austrian Prinzhorn Holding and has specialized in high-quality printed corrugated packaging solutions produced from recycled paper. With an annual production volume of about 1,623 million m2 of corrugated packaging, Dunapack Packaging ranks among the leading European packaging manufacturers.
The new production site in Greece will be an excellent complement for Dunapack’s CEE growth strategy, as especially in the food sector Greece has worldwide renowned export products with high quality standards. This results in a high demand of flexible and high-quality packaging solutions.
Prinzhorn Group has been a client of Fiebinger Polak Leon Attorneys-at-Law for many years. The firm regularly advises the group on its continuing expansion, most recently on the acquisition of Turkish paper and cardboard packaging manufacturer Dentas Ambalaj ve Kağıt A.Ş.
“We are delighted that we supported the Prinzhorn Group in taking this important step and we believe that we have once again proven our expertise in complex cross-border transactions,” said Bert Ortner, the leading partner in this transaction.