In a statement, the Portuguese pulp and paper company said the deal “is part of an ambitious plan for diversification and development of the Navigator Group, strengthening its position as the second largest Iberian producer of tissue”, with an annual production capacity that will now stand at 165,000 tonnes.
GC Consumer recorded total sales of €116m (£104m) in 2022. The operation was established in 2005 and was further expanded in 2018.
“As a result of the investment and to make the most of its strategic location in Ejea de los Caballeros (Saragossa), bringing this factory into the group should contribute to a new growth cycle in this business segment,” stated The Navigator Company.
Navigator said estimations for its Tissue business following the acquisition point to consolidated sales of over €300m.
“Acquiring GC Consumer complements the group’s current business activities, both industrially and commercially. Adding this new factory should enable a more optimised management of the portfolio of Iberian clients, help boosting new business in Spain, and capture operational synergies in France as a result of its strategic location in Saragossa,” The Navigator Company continued.
The group said it intends to continue GC Consumer’s business and incorporate the broad know-how, talent, and extensive experience of its staff, exploring opportunities to strengthen the position of this joint operation in the global market.