by The Navigator Company announced this Wednesday that it had formalized a stock purchase and sale agreement for the entire share capital of Gomà-Camps Consumer, a company based in Zaragoza, Spain, which in turn owns the entire share capital of Gomà -Camps France, based in Castres, France.
In a statement to CMVM, the pulp and paper producer says the acquisition of GC Consumer, which in 2022 had a total sales volume of 115.6 million euros, “is part of the ambitious growth and diversification plan of the Navigator group.”
“The integration of this new mill will allow Navigator to position itself as the second largest producer of fine paper in Iberia, adding 35,000 tonnes of annual capacity of fine paper, for a total of 165,000 tonnes per year and increasing the annual capacity ‘converting’ to 60,000 tonnes which they thus pass to 180,000 tons per year,” he adds.
The Portuguese group also says it intends to “integrate the extensive know-how, talent and long experience of GC Consumer’s professionals, continuing the activity carried out so far by the Spanish company and exploring opportunities that strengthen the positioning of the joint venture in the global market ».
The signed contract is still subject to the usual conditions of suspension, “which must be fulfilled by February 28, which specifically relate to the payment of liabilities and the release of guarantees currently outstanding for the shares of GC Consumer.” he adds.
In a newsroom statement, Navigator also said the acquisition of GC Consumer “is complementary to the group’s current business, both industrially and commercially.”
“The integration of the new plant will allow a more optimized management of the Iberian customer portfolio, help stimulate the exploration of new businesses in Spain and France, as a result of the strategic location in Zaragoza, and allow the capture of operational synergies,” he adds .
The Portuguese group also reveals that GC Consumer presents a total sales volume of around 116 million euros in 2022, which is added to Navigator’s around 200 million euros in sales in this business area last year.
“It is the most modern business (created in 2005 and expanded in 2018) that belongs to one of the oldest and best-known Spanish family businesses, with more than 260 years of history in paper production,” he emphasizes.
“As a result of this investment and taking advantage of its strategic location in Ejea de los Caballeros (Zaragoza), the integration of this new plant should contribute to a new cycle of growth in this business,” Navigator points out, adding that in the U tissue business estimates it will have around €300m in consolidated sales.
Navigator recalls that, in recent years, it has been working on a universe of innovative products with “the aim of meeting the needs of consumers and professionals, contributing to the improvement of daily hygiene and well-being care” and that “on this path Innovation and differentiation are now combined with GC Consumer’s pioneering attitude, which will allow it to continue to explore new business opportunities.”
