Turkish Kalenobel sold to South African Mondi Group

109 Argus - Mondi
Turkey, South Africa, UK
Sell side, Cross border

MP Corporate Finance acted as financial advisor to the owners of Turkish Kalenobel in its sale to Mondi Group at a valuation of about EUR 90m for 90% of the shares. Kalenobel is a leading producer of flexible ice cream packaging and aseptic packaging.

Turkish Kalenobel is  a leading consumer packaging company focused on the manufacture of flexible consumer packaging for ice cream and other applications as well as aseptic cartons. Headquartered in Istanbul (TR), the company supplies both international FMCG companies in Europe and the MENA region as well as regional food and beverage producers. Kalenobel operates two modern production facilities in the northwest of Istanbul.

Mondi is an international packaging and paper group with annual sales of more than € 6.8 bn and key operations in central Europe, Russia, North America and South Africa. The company is fully integrated across the packaging and paper value chain. Mondi offers more than 100 packaging and paper products with a variety of applications including stand-up pouches, cement bags, clever retail boxes or office paper.

The acquisition of Kalenobel accelerates Mondi‘s growth in consumer packaging by adding new applications to Mondi‘s already broad product portfolio as well as expanding the company’s geographic reach to interesting high-growth markets.