VPK Group
VPK Group is a Belgian packaging company focused on recycled-paper containerboard and corrugated-cardboard solutions.
Last updated August 31, 2026
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Overview
VPK Group is a Belgian paper and packaging group headquartered in Aalst. Its core business is the production and conversion of recycled paper into containerboard, corrugated board, and finished corrugated packaging. The company serves industrial, consumer-goods, logistics, retail, and e-commerce customers through a network of production and converting operations across Europe and, following its Corenso acquisition, China. The business began in 1936 when Omer Macharis established a paper factory in Oudegem, Belgium. It was subsequently associated with the name United Paper and Board Mills, abbreviated VPK. After the Second World War, leadership passed to Fernand Macharis. In the early 1990s, Fernand’s sons, including Pierre Macharis, assumed management, establishing the family-management structure that has remained an important feature of the group’s identity. VPK’s development has combined organic investment with acquisitions, joint ventures, and geographic expansion. Its 1999 initial public offering on the Brussels Stock Exchange provided capital for additional production capacity, including expansion at the Uniwell corrugated-cardboard operation in the Netherlands. Around the same period, VPK increased its participation in the French packaging group Ondulys and acquired Rigid Group in the United Kingdom. During the 2000s, it extended its footprint into Central and Eastern Europe, entering Poland and Romania in 2005. The group expanded its French corrugated-cardboard activities through the 2010 acquisition of Mondi Packaging Saint Quentin, which was renamed Ondulys Saint Quentin. It invested in German production through a joint venture factory at Leinefelde in 2011 and, with Klingele, acquired the UPM Stracel factory in France in 2013. Further capacity was added in Belgium in 2015 through the Courcelles facility operated as Cartonneries de Wallonie. In 2016, the acquisition of Peterson Packaging, with six Scandinavian factories, strengthened VPK’s regional platform and made it a packaging supplier to IKEA. VPK’s portfolio has also broadened beyond conventional corrugated packaging. In 2019, it acquired Corenso’s European and Chinese operations from NPAC International, expanding into China and reinforcing activities connected with paper cores and related fiber-based products. In Normandy, France, the former Alizay Double A Paper factory was repurposed in 2022 to produce lightweight recycled containerboard and packaging intended in part for e-commerce applications. This move reflected the group’s emphasis on fiber-based materials, lower material use, and the growth of shipment-intensive online commerce. The group continued to consolidate and extend its converting network in 2023 and 2024. Through its Corex subsidiary, VPK acquired Arteche Paper in 2023. It also acquired a majority stake in Italian corrugated-board producer Zetacarton and took a minority holding in UK specialist Ribble Packaging, which focuses on fanfold corrugated board. In January 2024, VPK formed a 50:50 joint venture with IEMME Packaging, a corrugated-board manufacturer near Milan. On April 28, 2025, it completed the acquisition of Open Imballaggi, an Italian sheet plant near Bergamo specializing in corrugated-cardboard packaging. VPK positions itself around circularity, recycled fiber, packaging efficiency, and integrated paper-to-packaging capabilities. Its business model links paper production, board manufacture, converting, and specialized packaging formats. The group has received recognition for sustainability reporting and family-business governance, including an award for Best Belgian Sustainability Report in 2023 and a Family Business Award of Excellence in 2024. Pierre Macharis is identified as the company’s chief executive officer.
History
VPK Group traces its origins to 1936, when Omer Macharis founded a paper factory in Oudegem, Belgium. The company later adopted the United Paper and Board Mills name, from which the VPK abbreviation derives. After the Second World War, Fernand Macharis led the business. In the early 1990s, management passed to Pierre Macharis and his brother, marking the continuation of the Macharis family’s involvement in the company. A major corporate milestone came in 1999, when VPK completed an initial public offering and became listed on the Brussels Stock Exchange. The capital supported production expansion, including investment in the Uniwell corrugated-cardboard facility in Raamsdonkveer in the Netherlands. During the same period, VPK strengthened its position in France through a larger interest in Ondulys and expanded in the United Kingdom through the acquisition of Rigid Group. The group broadened its geographic base in 2005 by entering Poland and Romania. In 2010, it acquired Mondi Packaging Saint Quentin in France for the corrugated-cardboard business and subsequently renamed the operation Ondulys Saint Quentin. VPK invested in Germany in 2011 through a joint venture that built a factory in Leinefelde. In 2013, VPK and Klingele jointly acquired the UPM Stracel factory in France. VPK continued to add Belgian capacity in 2015 with a EUR 6.5 million investment in a Courcelles facility operated as Cartonneries de Wallonie. In 2016, it acquired Peterson Packaging, which operated six factories in Scandinavia. This transaction expanded VPK’s Nordic presence and led to the group becoming a packaging supplier to IKEA. In 2019, VPK acquired Corenso’s European and Chinese operations from NPAC International. The deal expanded the group into China and reinforced its paper-core and related fiber-based activities. In 2022, VPK repurposed the Alizay Double A Paper factory in Normandy to manufacture lightweight recycled containerboard and e-commerce packaging. Expansion continued in Italy and the United Kingdom. In 2023, VPK acquired Arteche Paper through Corex, acquired a majority interest in Italian corrugated-cardboard producer Zetacarton, and purchased a minority interest in Ribble Packaging, a UK specialist in fanfold corrugated board. In January 2024, VPK and IEMME Packaging established a 50:50 joint venture near Milan. On April 28, 2025, VPK completed its acquisition of Open Imballaggi, an Italian sheet plant near Bergamo. The group’s present identity is built around recycled paper, containerboard, corrugated-board conversion, and specialized packaging. It combines manufacturing assets with a broad regional network and remains associated with family ownership and management. Its public recognition has included the 2023 award for Best Belgian Sustainability Report and the 2024 Family Business Award of Excellence.
- 2025
Open Imballaggi acquisition completed
[1]VPK completed its acquisition of Open Imballaggi, an Italian corrugated-packaging sheet plant near Bergamo.
- 2024
IEMME Packaging joint venture
[1]VPK entered a 50:50 joint venture with IEMME Packaging near Milan.
- 2023
Italian and UK expansion
[1]VPK acquired Arteche Paper through Corex, took a majority stake in Zetacarton, and invested as a minority shareholder in Ribble Packaging.
- 2022
Alizay facility repurposed
[1]VPK repurposed the Alizay Double A Paper factory to produce lightweight recycled containerboard and e-commerce packaging.
- 2019
Corenso operations acquired
[1]VPK acquired Corenso’s European and Chinese operations, extending the group’s activities into China.
- 2016
Peterson Packaging acquisition
[1]VPK acquired Peterson Packaging and its six Scandinavian factories, strengthening its Nordic packaging network.
- 2013
UPM Stracel acquisition
[1]VPK and Klingele jointly acquired the UPM Stracel factory in France.
- 2011
German joint-venture investment
[1]VPK invested in a joint venture that constructed a factory in Leinefelde, Germany.
- 2010
Acquisition of Mondi Packaging Saint Quentin
[1]VPK acquired the French corrugated-cardboard company Mondi Packaging Saint Quentin and renamed it Ondulys Saint Quentin.
- 2005
Expansion into Poland and Romania
[1]VPK expanded its operating presence into Poland and Romania.
Products and positioning
A vertically integrated, family-managed European packaging group focused on recycled paper, lightweight fiber-based materials, corrugated-board conversion, and circular packaging solutions.
Paper and board
Recycled containerboard
VPK manufactures containerboard from recycled paper for use in corrugated-board production. Its lightweight recycled grades are intended to reduce material use while retaining the structural properties required for transport and distribution packaging.
Packaging materials
Corrugated cardboard
Corrugated board is a central VPK product, produced through the combination of paper liners and a fluted inner layer. The group supplies board and converted formats to industrial, retail, logistics, and consumer-goods customers across its European network.
Transport and retail packaging
Corrugated packaging
VPK converts corrugated board into shipping cases, industrial packaging, retail-ready formats, and other customer-specific solutions. These products are designed for protection, stacking, handling, and distribution rather than for direct consumer branding alone.
E-commerce packaging · 2022
E-commerce packaging
The group produces packaging formats for online-order fulfillment and parcel distribution. The Alizay facility’s conversion to lightweight recycled containerboard and e-commerce packaging reflects VPK’s response to the expansion of direct-to-consumer shipping.
Specialty corrugated packaging
Fanfold corrugated board
Through its investment in Ribble Packaging, VPK participates in the fanfold corrugated-board segment. Fanfold material is supplied in continuous folded form and can be adapted to different package lengths, making it useful for flexible fulfillment and specialized packaging applications.
Paper-based industrial products
Paper cores
VPK’s Corenso-related operations produce paper cores and associated fiber-based products. These components are used as winding or support structures in industrial material applications and broaden the group beyond corrugated shipping formats.
Brand decisions
2024
Formation of the IEMME Packaging joint ventureM&ABackground
VPK continued to expand its Italian corrugated-board network through partnerships and local manufacturing capacity.
Action taken
VPK and IEMME Packaging established a joint venture with equal ownership.
Aftermath
The arrangement strengthened VPK’s presence near Milan and added a local corrugated-board manufacturing platform.
2022
Repurposing of the Alizay paper factoryStrategyBackground
VPK sought to align production capacity with demand for recycled, lightweight materials and e-commerce packaging.
Action taken
The group converted the Alizay Double A Paper factory in Normandy to produce lightweight recycled containerboard and e-commerce packaging.
Aftermath
The facility became part of VPK’s recycled-material and e-commerce packaging platform.
1999
Use of IPO proceeds for capacity expansionStrategyBackground
VPK sought capital to expand its corrugated-cardboard production platform and support international development.
Action taken
The company completed an initial public offering and directed the reported EUR 50 million raised toward expansion, including the Uniwell facility in the Netherlands.
Aftermath
The transaction supported further acquisitions and geographic growth during the surrounding period.
IPO proceeds. EUR 50 million raised (1999)
Sources1 sources
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