STATUS
Investment since 2009
SECTOR
Industrial packaging
REVENUE
550 million euros
- 100 employees
- Focus on wood packaging
- 2 locations in Flanders
- 1.350 employees
- Active in wood packaging production, new pallets and pallet repair
- Over 25 acquisitions
- 30 locations in Flanders and the Netherlands
Foresco was launched a century ago as a Flemish timber trading company. In 2009, the company was struggling due to the financial crisis. It had revenue of EUR 15 million and was operating at a loss with an outdated sales approach, infrastructure, processes, organisation and IT. After the acquisition by Dynamica, the company began making changes with a strong emphasis on professionalisation, and a few months later, the turnaround was already visible. Since then, multiple acquisitions and an ambitious and professional approach have transformed Foresco into the undisputed Benelux market leader in wood transport packaging (boxes, crates, pallets and cardboard cartons).
Actions taken
Strategic decision-making and an operational transformation enabled Foresco to improve its operations and overcome its challenges. For example, the company took over more multiple businesses active in the (wood) packaging industry. These acquisitions were fully integrated into the Foresco brand to create one organisation, one IT platform and one way of working, the ‘Foresco way of working’.
Various factories were combined and they invested in a new ERP package and additional manufacturing lines to increase efficiency and productivity. The factories themselves, their organisation and way of working were updated as well. Today, Foresco focuses very strongly on commercial excellence.
Results
Between 2009 and the current day, Foresco’s revenue rose from EUR 15 million to 550 million, with very nice profits. Foresco has expanded its operations and grown to encompass 30 locations in Flanders and the Netherlands. It clearly leads the Benelux market, with an emphasis on wood packaging production, new pallets and pallet repair. Besides this, Foresco is involved in cardboard packaging to a limited extent.
In preparation for the future, the company has committed to circularity and sustainability by cornering the market for repairs. Customers are assured of more professional, full-coverage service. Thanks to the increased efficiency of Foresco’s organisation and factories, their flexibility, quality and sustainability have improved. And they are literally closer to their customers.