Lucart Group Acquires Hungarian Tissue Converter Bokk Paper
Bokk Paper kft is the leading independent Hungarian company in the Away From Home (AFH) tissue products market.
May 31, 2016 (Press Release) - On 31st May the Lucart Group, through its holding company Lucart Spa, acquired the total capital of Bokk Paper kft, the main independent Hungarian player in the Away From Home (AFH) tissue products market.
The name of the company has already been changed to Lucart kft.
“We have had a good business relationship with Bokk Paper for over 10 years,” stated Massimo Pasquini, CEO of the Lucart Group. “And thanks to its geographical location, market reputation and marketing strategy, which align perfectly with our goals, Bokk Paper was the ideal acquisition for the expansion of our Company in Central- Eastern Europe.
“We believe that with the acquisition and integration of Bokk Paper into the Lucart Group, will strengthen our presence in the Central-Eastern European A.F.H. markets, by offering the best services and products to all current and potential new customers.”
Zsolt Király, one of the former owners of Bokk Paper, declared: “We believe that the sale of our Company to the Lucart Group is the best solution to give continuity to our entrepreneurial project and to assure the future growth of the business. For this reason, my partner József Orlovits and myself will remain as Managing Directors of the company to ensure a smooth and efficient integration and take over.”
About Lucart kft (former Bokk Paper kft)
Lucart kft is a Hungarian company located in Esztergom, 50 kilometers north of Budapest, operating in the tissue paper converting products sector, in the Away From Home market. The Company employs 55 people and has a turnover of 7.5 million euros. More than one third of the turnover is in export sales to neighboring countries. Around 80% of the sales are from Bokk Paper branded products.
The Lucart Group is an Italian Group with a production capacity of 310,000 t/y of tissue, airlaid and MG paper. The Company has a turnover of over 400 million euro and more than 1,250 employees. The Group is the leader in the Italian Away From Home tissue market and is in the top 5 European players in this sector. For more information visit: www.lucartgroup.com.
SOURCE: Lucart Group