Ethos Fund VI acquired Neopak in 2015 from Nampak alongside Twinsaver. At acquisition, Neopak was a vertically integrated player in the South African recycled paper, corrugated and converting market, with a diversified customer set. In 2020, the Neopak board took a strategic decision to dispose of Neopak’s remaining converting and corrugated operations. Today the business operates as an independent paper mill out of Rosslyn and employs c.200 employees”
Early last year, Ethos identified Nampak’s corrugate division as a business requiring lift.
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