Hartmann goes to Russia

At the beginning of 2021, Hartmann acquired Gotek-Litar, a leading retail and transport egg packaging manufacturer in Russia.

Hartmann goes to Russia

Gotek-Litar is located in Zheleznogorsk approx. 450 kilometres south of Moscow. The company has 250 employees and booked revenue of DKK 90 million in 2019. The purchase price was DKK 113 million at today's exchange rates, and the acquisition will contribute positively to Hartmann's earnings right away.

The acquisition of Gotek-Litar is a natural expansion of Hartmann's activities in Eastern Europe and Russia, establishing a strong foundation for long-term growth in the region. Sales of eggs and moulded-fibre egg packaging in Russia are driven by urbanisation, continued development of the retail industry and an increased focus on sustainability.

   

The production setup at the Gotek-Litar's factory is well-known to Hartmann as the facilities are based on machinery and technology developed and manufactured by Hartmann. Plans are to build the company further and expand the factory to exploit Russia's growth potential, where Hartmann is already serving several customers from its other European sites.

"We have wanted to become part of the Russian market for many years and have long aspired to enter through acquisition, with Gotek-Litar being the obvious choice. However, completing the transaction has been a lengthy and complicated process, and we are delighted to now welcome all the Gotek-Litar employees to the Hartmann family," says CEO Torben Rosenkrantz-Theil.


Torben Rosenkrantz-Theil
CEO, Hartmann

Limited edition HALO x hummel x DBU Danish National jersey

23 October 2024

HALO, hummel and the Danish Football Association (DBU) have designed a new limited edition national team jersey that the men’s national team will wear in the Nations League match against Spain on November 15th at Parken Stadium, Denmark.

THORNICO GROUP ANNUAL ACCOUNTS 2023

06 June 2024

Our CEO and Owner Christian Stadil shares a few words on our consolidated THORNICO results as well as a few top headlines from the Group.