Gascogne Group to sell its labelstock operations in Switzerland to UPM Raflatac

Gascogne Group, a major player in the French wood industry, present at every stage in optimising the forest resource, has signed an agreement with UPM Raflatac to sell its business operations of Gascogne Laminates Switzerland SA.

The parties have agreed not to disclose the purchase price. The closing of the acquisition is subject to regulatory approvals.

This disposal is in line with the Gascogne Group corporate strategy defined in September 2011, aiming at refocusing on its core businesses and deleveraging its financial structure.

UPM Raflatac is one of the world's leading suppliers of self-adhesive labelstock.

Gascogne Laminates is one of the world's leading producers of laminates for packaging and protection applications. In 2011, Gascogne's labelstock operations' annual sales amounted up to EUR 44 million. The company employs approximately 110 persons in its factory in Martigny, Switzerland.

"We are pleased to reach an agreement with UPM Raflatac, which is one of the leading and most respected player in the Labelstock market We strongly believe that the combination of UPM Raflatac and Gascogne's labelstock operations will result in strong benefits for all stakeholders. I take this opportunity to thank the Gascogne Laminates Switzerland teams for their professionalism and loyal support over the years." says Frédéric Doulcet, CEO of the Gascogne Group

“UPM Raflatac in Europe has focused in the past years especially in growth in special labelstock products. Gascogne Laminates has a strong and long-standing brand in this product area in Europe and through this acquisition we are proud to add those capabilities to our product platform. As a result of this transaction, customers will enjoy stronger speciality offering available through UPM Raflatac's extensive distribution network.” says Tapio Kolunsarka, Senior Vice President, Europe, Middle-East and Africa.
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