The holding company that owns Netherlands-based solid board manufacturer ESKA has been acquired by Reno De Medici SpA.
Reno De Medici, a European supplier of coated recycled cartonboard has announced that it is set to purchase ESKA, a Dutch manufacturer of solid board for the packaging, book, game and stationery markets, from current owner Andes C.V., part of US investment firm Andlinger & Co.
ESKA operates two mills in the Netherlands with an annual production capacity of 290,000 tons. In fiscal 2020, the company reported gross sales of €149.7m and net profit of €12.7m.
"This transaction offers us new development opportunities on a broader geographic scale. ESKA's product line focuses on specialty grades. With its integration into RDM Group, we aim to implement the same strategic multi-mill approach," noted RDM Group CEO Michele Bianchi in a statement.
Subject to approval, the deal should close on July 31 of this year.