PaperAge Magazine

OpenGate Capital Completes Sale of NorPaper in France to Gemayel Freres & Chaoui Industriel Group

NorPaper Nantes Based in France, NorPaper is a leading producer of white top testliner paper sold to European packaging manufacturers.

June 28, 2018 - OpenGate Capital, a global private equity firm, announced on June 22 that it completed the sale of one of its legacy, pre-fund investments, NorPaper Group to Gemayel Freres & Chaoui Industriel Group, a Lebanon-based business specialized in recycled corrugated cardboard and packaging products.

Terms of the deal were not disclosed.

Based in France, NorPaper is a leading producer of white top testliner paper sold to European packaging manufacturers.

OpenGate Capital acquired NorPaper from Canadian paper producer, Cascades, in 2011.

In February of 2015, OpenGate completed an add-on acquisition of DS Smith Packaging Papeterie de Nantes SAS (“Nantes”), a division of DS Smith, Plc. Integrated into NorPaper, Nantes broadened the product portfolio and added 50,000 tons per year of production capacity through its white top testliner paper made from 100% recycled fiber.

The Nantes mill also addressed growing market demand for paper products in a wider grammage and trim range.

Combined, NorPaper and Nantes have an annual capacity of 200,000 tons per year, positioning the company as the leading white top testliner paper producer in France and among the top five in Europe.

NorPaper's CEO, Laurent Glachant stated, “Working with the team at OpenGate Capital has been a rewarding process over the past several years. NorPaper has grown into a highly regarded business, recognized for producing a variety of white top testliner and recycled paper materials for our customers.”

SOURCE: OpenGate Capital