Model Group Acquires Corrugated Producer P-WELL GmbH
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The Model Group, Switzerland, has acquired CH-Weinfelden/TG - P-WELL GmbH, Germany, which has branches in Berka Werra (Thuringia), Bad Bentheim (Lower Saxony), Altenberge (North Rhine-Westphalia), Ochtendung (Rhineland-Palatinate) and Elterlein (Saxony). P-WELL employs 880 staff and in 2015 achieved annual sales of almost EUR 200 million.
Model Group notes that the acquisition of P-WELL 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 specialties 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 provides a vital component of high quality service.
The takeover will be finalized as soon as approval is given by the German independent competition authority (Bundeskartellamt).
