November 19 (SeeNews) - Turkish flexible packaging company Kalenobel has acquired the packaging manufacturing assets of Spanish company Big Drum, a manufacturer of sugar cone products and packaging for food, Turkish media reported on Tuesday.
The investment raises the annual cone sleeve production capacity of Kalenobel to 4.0 billion units and makes it a leader in the ice cream cone sleeve production in the European packaging sector, daily Dunya said.
You can subscribe to our M&A newsletter here
Kalenobel plans to raise its workforce to 450 people from 350 at present and targets to generate $100 million (74 million euro) revenue in 2014, the daily said citing Kalenobel's CEO Olcay Hephiz.
($ = 0.740 euro)