The Palm Group, Aalen, has acquired a 50 per cent stake in the Czech company Power Packaging s.r.o.. The company, based in Nýrsko, specialises in complex corrugated cardboard packaging and has an annual turnover of around 4 million euros. With this investment, Palm is expanding its activities in the area of sophisticated, customised packaging solutions.
The acquisition of Power Packaging is intended to combine the expertise of the specialised plant with the existing sales and production network of the Palm Packaging division. The company emphasises that Power Packaging will continue to operate as an independent family business and will continue in its current structure.
Expansion in the complex corrugated board packaging segment
According to Palm, the high proportion of manual activities in this segment in particular offers potential for customised solutions. The partnership is aimed at further developing these competences through joint structures and the transfer of expertise. Power Packaging also expects to strengthen its international competitiveness.
„With Palm, we have gained a strategically important partner who shares our goals and supports us in successfully developing important international projects in the East as well. By working closely together, we are creating new synergies, strengthening our market position and providing important impetus for sustainable growth,“ says Ralph Wakolbinger, Managing Director of Power Packaging.
„The joint venture will strengthen our position in the European market for complex packaging solutions and enable us to offer our customers an even broader range of products in future,“ emphasises Dr Marina Palm, Managing Director of Palm.
Continuity in management
According to Palm, Power Packaging will continue to operate within its existing structure and with the same management team. Both companies see the cooperation as a long-term step towards expanding the range of complex corrugated packaging and jointly developing market access.
Source: Palm
