Global packaging and paper group Mondi has agreed to acquire two extrusion coating facilities from Walki Group for EUR60m.
The transaction includes Walki's industrial packaging facilities in Pietarsaari, Finland and Wroclaw, Poland.
The facilities generated revenues of €113m in 2014, and have about 245 employees.
The deal does not include the RFID-antenna production line and the pilot facility assets situated in the Pietarsaari plant.
The acquisition will expand Mondi's presence in the European extrusion coatings market. The company currently operates five plants in the business segment, which is part of the Fibre packaging business unit.
Walki Group president and CEO Leif Frilund said: "The proposed transaction enables Walki to focus all its resource on the growing markets of energy saving laminates and membranes for building purposes, as well as on selected segments of the consumer packaging market.
"This step is fully in line with our strategy to leverage on our strong R&D capabilities in developing new multi-layer laminate solutions for our customers."
The transaction is anticipated to be completed by the third quarter. Poyry Capital is providing financial advise to Mondi.
Mondi employs about 25,000 people in over 30 countries. The company mainly operates in central Europe, Russia, North America and South Africa.
Walki Group operates in Finland, Germany, the Netherlands, Poland, Russia, the UK and China with around 900 employees.