APP Group has solidified its presence in the South Korean market by acquiring 100% ownership of MSS Holdings, the majority shareholder of Ssangyong C&B, known for popular tissue brands like CODI and Monalisa. This strategic acquisition, valued at approximately 400 billion won (around $296 million), signals APP Group's commitment to sustainable growth and leadership in the paper, pulp, and tissue sector in Asia, specifically in South Korea.
South Korea is currently the fifth-largest market in Asia for paper, pulp, and paperboard, with the sector projected to grow at a compound annual growth rate (CAGR) of 5.20% from 2023 to 2028. This acquisition positions MSS Holdings to benefit from APP Group’s established global operations, extensive expertise, and worldwide network, which are anticipated to enhance MSS's efficiency, cost-effectiveness, and overall competitiveness.
For APP Group, this acquisition offers a valuable entry point into South Korea's tissue and hygiene market, providing instant access to well-recognized consumer brands and an extensive domestic sales network. The move also aligns with APP Group's vision to promote sustainable practices and become a leader in environmentally responsible paper production in South Korea.
We are delighted to welcome MSS to APP and with APP’s global expertise, MSS can offer APP’s global high-quality tissue and hygiene products to Korea, providing Korean consumers with more innovative choices at competitive prices,” said Nishant Grover, CEO, Tissues International, APP.
As the world's fourth-largest pulp producer, APP Group supplies a diverse range of pulp-based products, including tissue, paper, and packaging, in over 150 countries. Through its acquisition of Ssangyong C&B, APP Group aims to bring its sustainability-focused initiatives to South Korea, fostering partnerships and collaborations that promote responsible sourcing, eco-friendly production, and innovative solutions across the industry.
This acquisition not only expands APP Group's footprint in Asia but also highlights its commitment to advancing sustainable practices in South Korea's paper and pulp sector. The collaboration between APP and MSS Holdings represents a significant step forward in providing environmentally responsible and high-quality options to consumers while supporting the growth and sustainability of South Korea's tissue and hygiene market.
APP Group, a leading pulp, paper, and forestry company based in Indonesia, supplies premium tissue, packaging, and paper products to over 150 countries. APP Group is committed to sustainability and ethical practices, focusing on the well-being of its employees, communities, and the environment. Guided by its Sustainability Roadmap Vision 2030, APP Group aligns with key Environmental, Social, and Governance (ESG) principles to promote environmental protection, community support, and responsible business growth.
Through its 2030 vision, APP Group actively pursues carbon neutrality, sustainable forest management, and biodiversity conservation, ensuring that its production processes benefit both the planet and local ecosystems. By continuously advancing eco-friendly practices, APP Group demonstrates its commitment to positive social and environmental impact, further solidifying APP Group’s role as a responsible leader in the global pulp and paper industry.