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Packaging And Design

Germany's Melitta Acquires Italian Cuki And Domopak Brands

By Branislav Pekic
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Germany's Melitta Acquires Italian Cuki And Domopak Brands

German multinational Melitta Group has acquired Italian food packaging company Cuki, famous for its Cuki and Domopak brands.

The acquisition by the household goods and packaging company will see majority shareholder and CEO of Cuki, Corrado Ariaudo, sell his 100% shareholding in the Piedmont-based company, which is a market leader in Italy.

Achieving Synergies

Ariaudo will continue to head the Cuki Group, with the goal of achieving potential synergies in Europe with Cofresco, a company wholly controlled by Melitta, operating in the food packaging sector in Germany, UK, France, Spain, Eastern Europe and Scandinavia.

The company is already an 18% shareholder in Cuki's subsidiary, Cuki Cofresco SpA.

The transaction is subject to approval by the relevant antitrust authorities and should be completed in the coming months.

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Restructuring Process

The deal comes after a restructuring and development process carried out by Cuki, which includes a difficult financial debt reduction plan (from over €250 million in 2006 to the current €67 million), which will be refinanced with the support of Melitta.

Cuki Group achieved a 2017 turnover of €200 million, of which one-quarter was earned abroad, and has facilities in Italy, France, Turkey and Poland. For its part, Melitta Group ended last year with a consolidated turnover of €1.54 billion.

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine

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