Nicosia, Cyprus. Lordos United Public Ltd announced on Friday that it has signed an agreement to acquire a 51 per cent controlling stake in P&S Carton Industries Ltd for €8.16 million in cash. The transaction marks Lordos United’s entry into Cyprus’ corrugated packaging sector and is subject to regulatory approval from the Commission for the Protection of Competition.
Transaction details
The company said the acquisition agreement was signed with the existing shareholders of P&S Carton Industries Ltd. The announcement was issued in accordance with the applicable provisions of the Cyprus Stock Exchange Listing and Disclosure Rules.
Strategic expansion
Lordos United, a Cyprus-registered public company listed on the Cyprus Stock Exchange, said the acquisition aligns with its long-term strategy of sustainable growth, operational excellence and shareholder value creation. The company currently operates in the plastics manufacturing and packaging industry, and the acquisition will expand its activities into the corrugated cardboard packaging market.
About P&S Carton Industries
P&S Carton Industries Ltd is a private limited company incorporated in Cyprus on December 5, 1991, under the Companies Law, Cap. 113, with registration number 46409. The company manufactures and sells corrugated cardboard boxes and packaging solutions, serving customers across a broad range of industries in Cyprus, including the beverage, agriculture, pharmaceutical and consumer goods sectors.
Market position
According to the announcement, P&S Carton Industries is the only domestic manufacturer of corrugated cardboard boxes in Cyprus, supplying approximately 60 per cent of domestic packaging demand, with the remaining demand met through imports. The company added that P&S Carton has developed over the past three decades into the country’s leading packaging supplier.
Share capital
P&S Carton’s issued share capital amounts to €119,700, divided into 70,000 shares with a nominal value of €1.71 each.