2025 10 02
One of the largest paper and wood industry groups in the Baltic States, Grigeo Group AB, is expanding in Western Europe. The group's subsidiary company Grigeo Hygiene has successfully completed the transaction and acquired 100% of the shares in the German company Huchtemeier Papier GmbH. This is a strategic move that opens up the largest European market for the group and new expansion opportunities in Germany and neighboring countries.
Based in Dortmund, Huchtemeier Papier is a family business with more than 125 years of tradition. The company is one of the leading suppliers of high-quality paper raw materials and converted tissue products.
Huchtemeier Papier supplies hygiene paper and napkins to wholesalers and specialist retailers, as well as paper raw materials and semi-finished products to industrial customers. The company's products are widely used in the cleaning services, hotel, catering, and medical sectors.
In 2024, Huchtemeier Papier's sales amounted to €92 million and EBITDA to €2.6 million. With a share of 73% the company generated the majority of its revenue in Germany, Austria, and Poland.
A strategic step into Western Europe
According to Tomas Jozonis, CEO of Grigeo Group, the transaction will open up new markets for growing production amounts while maintaining the independence of the long-established company.
"By acquiring Huchtemeier Papier, we are not only acquiring a company with deep traditions and a strong name in the German paper market, but also invaluable experience and partnerships built up over more than a century. This is a strategic move that opens up the largest European market for us – Germany, as well as Austria, where Huchtemeier Papier has a strong position. For our hygiene paper segment, this step will allow us to expand our logistics chain and ensure long-term partnerships with local customers," said T. Jozonis.
Business continuity and future goals
The head of Grigeo Group emphasized that the German company Huchtemeier Papier will continue to operate as an independent business unit, retaining its name, management, and unique competencies. The two brothers and sister of the Vosschulte family who have managed the German company to date will continue their activities in the company.
"We value their many years of experience and deep knowledge of the local market as one of the company's greatest strengths. Our goal as the new partner is to ensure business continuity, supply chain stability, and lay the foundation for the company's continued sustainable growth," he said.
Alfred Vosschulte, CEO of Huchtemeier Papier, emphasized the compatibility of the values of the company and the Grigeo Group.
“With Grigeo Group, we immediately recognized a strong cultural fit and the assurance that our family business values will be preserved. The opportunity to continue as an independent business unit while contributing our strengths to a growing international tissue group was decisive for us,” he said.
Huchtemeier Papier currently has a team of 47 employees and sales offices in Germany, Austria, Poland, and Turkey. The transaction was financed by Grigeo Hygiene, the amount of the transaction has not been disclosed by mutual agreement between the parties.
Exedra Corporate Finance acted on buyer’s side as business advisor for the transaction. Financial, tax, and legal advice was provided by Baker Tilly GmbH & Co. KG.
For the sellers, ACTIVE M&A Experts GmbH has exclusively organized and managed the transaction process until completion. Aderhold Rechtsanwaltsgesellschaft mbH has supported as legal advisors and Audalis mbB as tax advisors.
The Grigeo Group of companies to produce fiberboard, paperboard and tissue paper consists of Grigeo Hygiene, Grigeo Paper Packaging, Grigeo Tissue, Grigeo Klaipėda, Grigeo Packaging, Grigeo Baltwood, Grigeo Recycling, Grigeo Recycling (Latvia), Mena Pak (Ukraine) and Grigeo Tissue (Poland).
The group employs over 1,000 people. In 2024, Grigeo Group’s annual turnover reached €213 million, EBITDA stood at €34.8 million, net profit – €20.9 million.
Shares of Grigeo Group are traded on the Nasdaq Vilnius Official List.