MP Corporate Finance acted as financial advisor to the owners of Turkish Propak, a leading converter of flexible packaging for snacks markets, to film manufacturer Polinas, a group company of Yildiz Holding.
With headquarters in Istanbul (TR), Propak is a specialized converter of flexible packaging materials for snacks, confectionery and nuts & dried fruits markets. The company mainly supplies its products to multinational customers and regional leaders in Western Europe and Turkey (60% export share). Propak operates a leading-edge production facility in Düzce, east of Istanbul, and is able to provide the full spectrum of flexible packaging converting at highest quality. The company generates c. € 60m sales with about 300 employees.
Polinas is a leading manufacturer of BOPP, BOPET, CPP, metallized, coated, barrier and holographic film and tear tapes with a total production capacity of about 200.000 tons per year. The company has it’s headquarter and production in the Izmir region and offices in Istanbul and the US. Polinas is part of Yildiz Holding, one of the largest food manufacturers in Europe and MENA with annual sales of around € 10bn.
After significant investments in its production facility over the past years, the acquisition of Propak is another important step in Polinas’ growth strategy as it further adds consumer packaging converting capabilities to Polinas’ value chain. MP Corporate Finance acted as sell-side advisor to Propak and its shareholders, Southeast Europe Equity Fund II, a fund managed by SEAF and founding shareholder Serdar Cetin during the transaction.
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.