OpenGate Capital acquires Norampac-Avot-Vallée

Canadian corporation Cascades decided to divest its French subsidiary to better focus on North American operations. OpenGate Capital was attracted by the company's market position and underlying value, in addition to its potential for expansion - both through acquisitions and organic growth. OpenGate also believes the investment will strategically complement its other wood and paper industry holding, Kotkamills.

Blendecques-based Norampac-Avot-Vallée manufactures White Testliner, a specialty paper made entirely from recycled fibers and used for a variety of packaging products. With an annual production in excess of 145,000 tons, the company posted a €49m turnover in 2009. It was established in 1971 and currently employs 160 staff.

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