The Hungarian Competition Authority (GVH) has cleared the acquisition of Sofidel's private-label paper products business in Hungary by Vajda-Papír, Hungary's biggest maker of hygienic paper products, Vajda-Papír said on Wednesday.
The watchdog established that the merger would not reduce competition on the affected markets to a significant degree.
The transaction is expected to close when conditions in the contract are fulfilled.
According to the company’s announcement, the acquisition aligns with Vajda-Papír’s long-term growth strategy. Earlier this year, the company announced the largest investment program in its history — a HUF 40 billion initiative to be implemented over three years — aimed at expanding production capacity by approximately 40%, modernizing technology, improving energy efficiency, and further strengthening its market position in the region.
The acquisition of this industry peer was announced at the same time.
Owner Attila Vajda said the acquisition would strengthen the company's market position and further improve levels of service for Vajda-Papir's partners in Hungary and abroad.
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