Packaging supplier ÅR Packaging has acquired all the outstanding shares of folding carton products manufacturer Istragrafika.
Croatia-headquartered Istragrafika employs 160 people and supplies packaging for the food, tobacco and consumer goods segments.
The firm was established in 1956 and previously owned by TDR, a subsidiary of British American Tobacco. ÅR Packaging said the firm was integrated into its business as of 1 January 2019.
ÅR Packaging CEO and president Harald Schulz said: “ÅR Packaging has a strategic plan built on three pillars: further growth in Europe in selected business segments, global expansion with selected packaging solutions and further improved operational excellence and cost-efficiency.
“This approach has proven very successful and with the acquisition of Istragrafika we strengthen our presence and position further in selected segments.”
Sweden-headquartered ÅR Packaging has 2,200 employees across 17 factories in nine countries. It was formed in 2011 following the merger of A&R Carton and Flextrus.
The company manufactures a range of flexible packaging, plastic trays, cups and carton board packaging. In 2017, it announced the closure of two carton plants in Russia and Finland, affecting 150 jobs.
© FoodBev Media Ltd 2019