P. Van De Velde Group has agreed to acquire 100% of the shares of Koninklijke Schut N.V. With this acquisition, P. Van De Velde Group further strengthens its position in folding carton and packaging applications, operating under the name ‘Van De Velde Packaging’. Combining two complementary enterprises into one strong organisation, allows the Belgian group to better respond to new opportunities in a growing market of folding carton packaging and folding synthetics packaging, also on the Dutch market.
Van De Velde Packaging operates activities in Lichtervelde (Belgium), Kruishoutem (Belgium) and Poznan (Poland). The produced packaging applications are primarily marketed in food, beverage and healthcare segments. Moreover, Cartonnage P. Van De Velde, also part of the P. Van De Velde Group, produces solid carton board wrappings in her Wetteren (Belgium) factory. The total group produces around 40.000 tons of packaging materials a year. The acquisition of Koninklijke Schut approximately adds another 10.000 tons.
Koninklijke Schut activities
Koninklijke Schut, founded in 1886, has grown from a small family business to the market player with a strong position and reputation in the packaging industry that it is today. She operates via her subsidiaries on two sides of the industry: the production and sales of the packaging applications (Schut Packaging), and the production and sales of machines meant to produce these packaging applications (Schut Systems). The Koninklijke Schut locations will remain located at the same address, and in its current form. The current management team will remain responsible for day-to-day business operations.
Legal counsel BarentsKrans
A team of BarentsKrans acted as legal counsel to the Belgian buyer P. Van De Velde Group. Lawyer and partner Michiel Martin has, together with lawyer Nicole Bokern, performed due diligence and composed all transaction documentation – among which a letter of intent and share purchase agreement. Civil-law notary and partner Martijn van Ansem drafted the notarial delivery act. Fortaleza Capital acted as corporate finance adviser to buyer P. Van De Velde Group.