Model Holding AG has acquired 100% of the P-WELL Group, which specializes in the production and sale of corrugated board formats and packaging, as the company said in the press release received by Lesprom Network.
CH-Weinfelden/TG - P-WELL GmbH has branches in Berka Werra (Thuringia), Bad Bentheim (Lower Saxony), Altenberge (North Rhine-Westphalia), Ochtendung (Rhineland-Palatinate) and Elterlein (Saxony). It employs 880 staff and in 2015 achieved annual sales of almost Euro 200 million.
For the Model Group, the acquisition of P-WELL GmbH is an ideal geographic addition to its existing corrugated board plants in Poland, Czech Republic, Croatia and Switzerland. With its plants in Weinfelden (Switzerland), Nymburk (Czech Republic) and the recently announced new plant in Nowa Sól (Poland), Model already has three plants close to the German border.
This takeover now makes it possible to comprehensively supply existing major customers throughout Germany and the Benelux countries.
In addition, through its own in-house preprint method P-WELL gives Model access to new printing processes, including specialities such as heavy-duty and fanfold corrugated board, thus offering interesting additions to the product portfolio. P-WELL’s fleet of about 150 trucks also provide a vital component of high quality service.
The takeover will be finalised as soon as approval is given by the German independent competition authority (Bundeskartellamt).