Revealed! this european paper and packaging giant earns 15.6 billion annually and has three factories in china!

VPK Group, a leading packaging company founded in 1935 and headquartered in Belgium, has developed from a local enterprise into an international supplier of sustainable protective packaging solutions over the decades. Its core business revolves around three main product categories: packaging paper (VPK Paper), corrugated boxes (VPK Packaging) / corrugated board (AQUILA), as well as solid board (Smart) and paper tubes / paper edge protectors (Konsor Corex). VPK Group is committed to providing high-quality and reliable services, closely monitoring local market demands, while leveraging cross-border expertise and experience sharing to create customized solutions that meet customer expectations.

The business model of VPK Group is firmly built on two core pillars: sustainability and innovation.

Raw Materials and Circular Economy: Every year, VPK recycles nearly 1.5 million tons of waste paper and cardboard, reusing it to produce packaging solutions. The company creates value by efficiently utilizing FSC® certified raw materials and respecting natural resources, all while strictly adhering to the circular economy model, ensuring that products meet the highest environmental standards.

Product Design and Performance: VPK's goal is to make its products recyclable and biodegradable. In 2024, the products launched by the company are designed with this concept in mind from the very beginning. VPK continuously evaluates and verifies product performance to ensure they remain efficient across various applications, meeting the increasing regulatory and consumer demands for sustainability.

Global Network and Production Capacity: VPK has a vast network of over 70 manufacturing plants across 21 countries/regions, enabling it to maintain strong production capacity and a flexible market response speed. In particular, in China, its subsidiary Kenson has factories in Hangzhou, Beihai, and Foshan, primarily producing paper tubes, core tubes, consumer packaging applications, and edge protection products, demonstrating VPK's deep layout in the Chinese market.

Supply Chain and Talent: VPK Group's supply chain and distribution network are designed to improve efficiency and sustainability, ensuring timely delivery of materials and products. The company has a workforce of over 7,080 skilled employees (of which 216 are in China), which is the core driving force behind its innovation and operational excellence. Through the "Future Leaders Program" and an annual training time of 20 hours for each employee, VPK supports leadership development and career growth. This year, the average training duration for each employee has increased by 20% compared to last year, reflecting a commitment to continuous learning and development.

Technology and Intellectual Property: VPK utilizes intellectual property including innovative designs and patents, as well as digital tools and automation technologies, to continuously improve its production processes and maintain its leading position in the industry.

VPK Group provides customers with sustainable packaging solutions that are recyclable, biodegradable, and FSC® certified. Its optimized packaging design not only reduces material usage and provides a worry-free experience but also enhances durability, saving costs for customers and improving logistics efficiency.

VPK provides customized packaging solutions for various industries such as food, retail, industrial, and e-commerce, ensuring better product protection and enhancing brand image. In addition, customers can achieve transparent management through VPK's sustainability certification, clearly tracing the source of their packaging and its environmental impact.

Outstanding financial performance and robust governance.

Investors can benefit from VPK Group's strong financial performance. In 2024, VPK Group achieved a revenue of 1.849 billion euros (approximately 15.6 billion yuan) and a pre-tax profit of 84 million euros. Even more remarkable is that the company has achieved a compound annual growth rate (CAGR) of 7% over the past five years, indicating robust growth momentum. In 2024, sales of corrugated boxes/cardboard reached approximately 2.256 billion square meters or 1.055 million tons, sales of packaging paper were about 1.283 million tons, and sales of solid cardboard/paper tubes/paper corner protectors were around 456,000 tons, all showing varying degrees of increase compared to 2023.

The family ownership structure of VPK Group ensures stable governance, a long-term corporate vision, and resilience against market fluctuations. The company is firmly committed to sustainable development and continuously reinvests in research and development to provide momentum for future growth.

VPK Group has a firm commitment to environmental sustainability: 100% utilization of recycled paper, using 100% recycled paper in paper production; high recycling rate; 90% of the paper used in packaging production is recyclable (non-virgin material); renewable resources, 98% of raw materials come from renewable resources; net-zero emissions target, VPK's net-zero emissions target has been certified by the authoritative Science Based Targets initiative (SBTi), indicating that its emission reduction goals are aligned with global climate science; water resources and forestry, during the papermaking process, VPK actively conserves water and supports reforestation and responsible forestry programs, protecting natural resources from the source.

VPK is also a founding partner of Blue Box Partners, an alliance composed of four private capital-operated pan-European companies. Each partner has established experience and successful cases in their respective domestic markets, sharing the same structure, values, and long-term business vision. Blue Box Partners adopts a coordinated model, leveraging the expertise of over 13,500 employees and the production capacity of 114 production facilities to ensure customized design and delivery services based on the needs of clients of any scale. In addition, VPK has joined industry alliances such as the European Federation of Corrugated Board Manufacturers (FEFCO) and the Confederation of European Paper Industries (CEPI), actively promoting regulatory frameworks that support the circular economy.

Supplier and Customer Ecosystem

The main suppliers of VPK Group include: suppliers of recycled paper and cardboard; energy suppliers providing renewable energy such as biomass, solar, and wind energy; mechanical and technical partners for automated manufacturing equipment; and logistics and transportation partners that ensure efficient supply chain management.

VPK Group mainly serves B2B customers across various industries by providing customized sustainable packaging solutions. Its primary customer base includes: food and beverage, retail and consumer goods, e-commerce and logistics, as well as industrial and manufacturing sectors. VPK sells customized packaging directly to business clients through direct sales and B2B contracts. Customers can also place bulk and regular orders through its online portal, enjoying convenient service.

Although VPK is a B2B supplier, its products ultimately support a wide range of end-user industries—from retail consumers purchasing sustainable packaging products, e-commerce customers seeking worry-free packaging, to industrial clients requiring heavy-duty solutions, and logistics suppliers relying on durable, stackable packaging for transportation and warehousing—all benefit from VPK's packaging products.

The success of VPK Group is not accidental; its business model clearly demonstrates how traditional manufacturing can achieve high-quality growth by deeply integrating sustainable development concepts, continuous innovation, and building a global network in the context of the current global economy and environmental protection.

VPK's core competitiveness is reflected in the following aspects:

A firm practitioner of the circular economy: VPK places recycling and renewable resources at the core of its business, which is reflected not only in the production of 100% recycled paper and the use of a high proportion of recyclable materials but also in achieving the net-zero emissions target certified by SBTi. This gives it a moral high ground and competitive advantage in a market where environmental regulations are becoming increasingly strict and consumer awareness of environmental issues is rising.

Globalization and Localization in Tandem: With over 70 factories across 21 countries, including its presence in China (such as Coensel), VPK is able to effectively serve local markets while sharing global expertise and production capabilities to meet diverse customer needs.

Technological innovation and customized services: VPK not only focuses on recyclable and biodegradable design but also optimizes production processes through innovative design and automation technology, providing tailored solutions for a wide range of industries such as food, retail, industrial, and e-commerce, enhancing product protection and brand image for customers.

Robust financial performance and family governance: Continuous growth in revenue and profits, along with the stability and long-term vision brought by family ownership, provide a solid foundation for VPK's ongoing investment in research and development and its response to market fluctuations.

People-oriented and industry collaboration: Investing in employee training, focusing on employee well-being, and actively participating in industry alliances demonstrate that VPK not only cares about internal development but is also committed to promoting sustainable progress and policy improvement throughout the industry.

The case of VPK Group provides a successful transformation model for other traditional manufacturing enterprises: that is, while pursuing business growth, it deeply integrates environmental responsibility, technological innovation, and customer-centricity into the corporate DNA. In the future, with the ongoing explosion in global demand for eco-friendly packaging and the in-depth promotion of the circular economy model, VPK Group will undoubtedly continue to maintain its leading position in the industry and contribute more to the green and intelligent development of the global packaging industry.