Hungarian paper firm acquired by Italian peer
Hungarian hygienic paper products manufacturer Book Paper was acquired by Italian peer Lucart Group, the Italian company announced without disclosing the purchase price, Hungarian news agency MTI reported today.
The two Hungarian former owners will continue to work at the company as managing directors. The company will be renamed Lucart Kft, MTI noted.
Lucart Group’s acquisition is the first for the group in Hungary. The Italian firm has had business ties with the Hungarian company for more than ten years.
Bokk Paper has annual revenue of HUF 2.4 billion, one-third from exports. It employs 55 people, MTI said, adding that Lucart Group has annual revenue of more than €400 million (approximately HUF 125 bln).
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