30.06.2022 - plastics news from Turkey

Korozo and Actera Group have signed a partnership agreement

Korozo and Actera Group have signed a partnership agreement
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Investment bank ÜNLÜ & Co (based in Turkey) provided Korozo Ambalaj with financial advice throughout the partnership negotiations with Actera Group. Turkey’s leading packaging manufacturer Korozo, represented by ÜNLÜ & Co, and Turkey’s largest private equity company Actera Group have signed a partnership agreement.

The partnership negotiations have been concluded with the signing of stock transfer and partnership agreements between Korozo Ambalaj San. Ve Tic. A.Ş. and Actera Group. Korozo and its shareholders were advised by ÜNLÜ & Co, Turkey’s leading investment banking and asset management company.

İbrahim Romano, ÜNLÜ & Co Corporate Finance Managing Director, sharing information about the partnership and the process, said, “We have successfully concluded one of the most important transactions ever to be carried out in Turkey in recent years. Korozo is one of Turkey’s largest flexible packaging manufacturers and exporters, and is aiming to become one of Europe’s top-10 flexible packaging manufacturers with nearly €250 million in revenues. The founders of Actera and Korozo aim to capture a 3-percent share of the European market through organic and inorganic growth. Korozo Ambalaj will create a substantial foreign currency inflow and employment through new investments and rapidly increasing exports. The transaction will be completed upon approval by the Turkish Competition Authority.”

Korozo Ambalaj San. Ve Tic. A.Ş. : The company commenced plastic packaging manufacturing operations in 1973. Through investments, it boosted growth in the packaging industry, while breaking new ground with many initiatives in Turkey. The company grew very rapidly in the 1990s, blazing new trails in flexible packaging. Korozo is one of the world’s foremost packaging manufacturers as well as an industry leader in Turkey in terms of product diversity. The company boasts one of the largest facilities in the Middle East and Europe with an annual production capacity of over 98,000 tons. The company has a 1,700-strong workforce, including regional offices in the U.K., Germany, France, and Turkey. Turkey’s biggest packaging manufacturer and industry leader Korozo is a global brand with exports to more than 70 countries.

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