Corrugated cardboard: Grifal acquires the operating division of Cornelli

The Grifal group continues its strategy of growth through acquisitions.

Following the recent takeover of Tieng, the group has now signed an agreement to acquire 100% of the share capital of a newco called Cornelli Brand Packaging Experience to which the Cremona-based company Cornelli will transfer its operating division devoted to the production of corrugated cardboard boxes, as well as the design and implementation of new branding techniques applied to packaging.

The €1.257 billion deal will enable the group to accelerate its growth and increase its volume of business with Italian and international companies that are particularly sensitive to issues of sustainability, innovation and communication applied to packaging through its cArtù and cushionPaper branded product lines.

Andrea Cornelli, previously a non-executive director of Grifal, will intensify his collaboration and become Vice Chairman of the Board of Directors and Chief Strategist and Innovation Officer, a position that will enable him to exploit his national and international expertise and relations with major players in the world of paper and board.

Image credits: Grifal on Facebook