SEOUL, KOREA - ASG, a leading global specialty-packaging manufacturer, announced today it has acquired the Bydgoszcz, Poland-based beauty and personal care folding carton business of MeadWestvaco Corporation (NYSE:MWV). Terms of the transaction were not disclosed.
Bydgoszcz is an important supplier of packaging to major global and regional consumer goods companies, including cosmetics and beauty brands. ASG, already one of the largest packaging suppliers for the home entertainment industry, will leverage the Bydgoszcz operation’s assets to expand its footprint in the European consumer-packaging market. The acquisition is part of ASG’s multiyear strategy to develop additional world-class packaging solutions for the beauty and personal care, spirits, confectionery, and healthcare markets.
“In bringing Bydgoszcz into our group, we increase our level of technical capability, experience, and knowledge of consumer markets,” Tony Garnish, ASG’s Chief Executive - Europe, stated. “We look forward to cultivating new opportunities while continuing to deliver first-class solutions for our current clients.”
Mike Jackson, Chairman of ASG’s Board of Directors, stated that the acquisition will make ASG more competitive and help the company better meet the needs of demanding consumer brands and existing customers. “This acquisition is another excellent platform from which ASG can grow into new markets,” he commented. “We are excited to extend our presence in Europe and expand our global customer base in our primary business of print, packaging, and plastics.”
All 320 of the current employees will continue working at the Bydgoszcz facility. “We are excited about ASG’s future,” Garnish stated. “And we warmly welcome our new colleagues from MWV-Bydgoszcz into the ASG and Atlas families. They offer decades of unparalleled knowledge and experience in their industry.”
