The Hungarian Competition Authority (GVH) has approved, without commitments or conditions, the acquisition of Sofidel Hungary Kft.’s private label household paper manufacturing and partial sales business by Vajda-Papír Kft.
The GVH concluded that the merger does not significantly reduce competition in the relevant markets, therefore one of the most important regulatory conditions is fulfilled for the closing the transaction.
Attila Vajda, founder and managing director of the Vajda-Papír Group, stated that the objective of the transaction is to further strengthen the company’s regional presence in the household paper market, as well as to increase service and supply security by expanding production capacity
The GVH conducted a full merger control procedure. During the investigation, the authority consulted more than thirty market players—including private label paper manufacturers and the largest domestic retail chains—to assess the potential competitive effects of the transaction. Ultimately, the authority concluded that the acquisition would not significantly reduce competition in the affected markets.
“The approval by the competition authority is an important milestone in the implementation of the transaction. The acquisition will allow us to further strengthen our market position and serve our partners in Hungary and export markets at an even higher standard. Our long-term goal is to further increase the security of supply in the region, while building our growth on state-of-the-art technologies and the expertise of our colleagues,” highlighted Attila Vajda.
The financial closing of the transaction is expected following the fulfillment of additional closing conditions specified in the transaction documents.
He added that the company highly values and relies on the employees of Sofidel Hungary’s plant in Lábatlan.
“Following the closing of the transaction, we count on all our colleagues, and we also plan further staff expansion. The benefits, training opportunities, and long-term career paths standard at the Vajda-Papír Group will also become available to the employees in Lábatlan. We are convinced that our company’s success is built on a committed community of employees,” emphasized the founder and managing director of the Vajda-Papír Group.
The acquisition fits into Vajda-Papír’s long-term growth strategy. This year, the company announced the largest investment program in its history, worth HUF 40 billion to be implemented over three years, aimed at expanding production capacity by approximately 40 percent, technological modernization, improving energy efficiency, and further strengthening its regional market position.
The 100% Hungarian family-owned Vajda-Papír Group is Hungary’s leading hygiene paper manufacturer. The company employs more than 700 people across three locations in Hungary and one in Norway, with an annual production capacity exceeding 140,000 tons, and exports its products to more than thirty countries