Hansol Paper, South Korea's largest paper manufacturing company with $2 billion in annual sales, has announced the acquisition of the shares in Telrol B.V., a European leader in self-adhesive labels from Telrol Management B.V. One of Telrol's founder, Ton Jacobs, will enter retirement while Hoessein Hadaoui will remain CEO and part owner of the Group. Telrol was featured in L&NW as a "Company to Watch" in October 2013.
The Telrol Group, based in Almere, the Netherlands, is made up of Peha Labels, BioLabel, HACCP Label, LMG Ribbons, Kolibri Labels and Q-Tronics, services the label markets for food, retail, cosmetics, pharma, home and personal care, logistics and the chemical industry. The Group employs 230 people and has over 60 printing and converting machines.
Together with the Schades Group, which Hansol Paper acquired in September 2013, this additional acquisition will expands the company's servicing of POS receipts and self-adhesive labels for the retail business across Europe.
Sang-Hun Lee, CEO of Hansol Paper, comments: “The objective of this acquisition will be to enter into the fast growing label business and to ensure Telrol’s further growth with Hansol Paper’s experience and core competency. To strengthen its business portfolio, Hansol Paper became the first Korean paper manufacturer to enter into European market after acquiring the Schades Group, a European market leader in POS thermal paper converting and label manufacturing. As its future business plan, Hansol Paper aims to grow its label converting business to its core business all along with the paper converting of the Schades Group.”
Hoessein Hadaoui, CEO of Telrol Group, says, “This acquisition will enable the company to further strengthen its competitive position and become a part of a significant pan-European group, as well as Hansol’s competitive advantage and high quality standards will strengthen our position. Our growth strategy will include large scale national and international acquisitions in the label industry and the current employees will be retained and new opportunities for job creation are part of the future growth strategy”.
Hansol Paper is the largest subsidiary of the Hansol Group, which was spun out of the Samsung family in 1991. Having operated for 50 years, Hansol Paper is Korea’s largest paper manufacturing company with annual revenue of USD 2 billion and total assets of USD 3 billion as of Dec 2013.