Lordos United Public Ltd has completed the €8.16 million acquisition of a 51 per cent stake in P&S Carton Industries Ltd, following regulatory approval, bringing the Cypriot cardboard packaging manufacturer under its control.

The company announced on Thursday that it had acquired 35,700 shares in P&S Carton in accordance with the share purchase agreement signed on July 10, 2026.

The transaction was completed after the Commission for the Protection of Competition approved the deal, finding that the concentration was compatible with the functioning of competition in the market.

Following completion, P&S Carton has become a subsidiary of Lordos United, while the sellers retain a combined 49 per cent shareholding.

The acquisition marks Lordos United’s entry into Cyprus’ corrugated cardboard packaging sector, expanding its activities beyond its existing plastics manufacturing and packaging operations.

P&S Carton manufactures and sells corrugated cardboard boxes and packaging solutions to businesses across a range of industries, including food and beverages, agriculture, pharmaceuticals and consumer goods.

Founded in Cyprus in 1991, the company was described as the country’s only domestic manufacturer of corrugated cardboard boxes, supplying approximately 60 per cent of local demand, with the remainder covered by imports.

When the deal was announced, Lordos United said the acquisition aligned with its long-term growth strategy and would diversify its product portfolio while creating opportunities to develop integrated packaging solutions.

The company also pointed to potential synergies between the two businesses, including opportunities to serve existing customers across a wider range of packaging products.

Lordos United said planned investment in new machinery during 2027 and 2028 was expected to increase P&S Carton’s production capacity and improve its cost competitiveness.

Based on P&S Carton’s 2025 financial results, Lordos United previously estimated that approximately €11.4 million in annual turnover would be consolidated into its group results from the acquisition date.

It also estimated that its 51 per cent share of EBITDA would amount to approximately €869,248, based on the target company’s 2025 performance.

The acquisition forms part of Lordos United’s broader expansion plans under its new management, which has highlighted growth opportunities through increased production capacity, new packaging solutions and a stronger presence in strategic sectors of the economy.