Mondi eyes acquisitions to capture growth in consumer packaging

Johannesburg

MONDI Ltd is seeking to acquire more companies making the type of flexible packaging used for items like pet food pouches, as the South African manufacturer taps growing demand from the consumer goods industry.

The maker of corrugated boxes and industrial bags has made four "bolt-on" consumer-related purchases in the past two years and has the appetite for more, chief executive officer David Hathorn, 54, said last week. The completed deals include 90 per cent of Turkish ice-cream package maker Kalenobel for 90 million euros (S$136.3 million) and businesses in Russia and Germany.