TIDMSKG
Smurfit Kappa completes acquisition of Reparenco
Delivery of central element of SKG's Medium Term Plan
Transaction multiple represents 4.5x post synergy EBITDA
Smurfit Kappa Group plc ("SKG" or the "Group"), one of the
world's largest integrated manufacturers of paper-based packaging
products with operations in Europe and the Americas, is pleased to
announce that it has completed the acquisition of Reparenco, a
paper and recycling business in the Netherlands, for EUR460
million.
The acquisition represents a transaction multiple,
pre-synergies, of 6.4x Reparenco's 2018 expected full year EBITDA
of EUR72million. Reparenco's strong strategic fit with SKG's
existing European businesses is expected to deliver synergies of in
excess of EUR30 million. Including synergies, the acquisition
multiple is less than 4.5x EBITDA.
Smurfit Kappa, CEO, Europe, Saverio Mayer, said: "We are very
pleased to complete the acquisition of Reparenco and to welcome
their 315 employees to Smurfit Kappa. There is a strong cultural
fit between our businesses and we are excited about the potential
for Reparenco within the Smurfit Kappa integrated system.
Reparenco represents early delivery of a central element of our
Medium Term Plan - to increase our European recycled containerboard
capacity. It is ideally situated in our core European operating
region where we continue to see strong demand driven by growth in
e-commerce and increased substitution of plastic with paper-based
packaging. The mill is also very well placed on the cost curve and
specialises in producing basis weights from 80 to 120 grams which
caters for the market's growing demand for lighter-weight
materials."
Laurent Sellier, Smurfit Kappa COO, Paper Europe, added: "The
acquisition of Reparenco will strengthen our integrated business
model and adds 405,000 tonnes of recycled containerboard capacity
to our system.We are also pleased to have acquired a high quality
graphic paper machine very well positioned in its market. While the
machine offers the potential for conversion to containerboard over
the medium-term, our intention is to continue to produce graphic
paper for our customers for the foreseeable future.
The 750,000 tonne recycling operation increases our security and
quality of raw material supply and also ensures we can provide our
customers with greater certainty about the quality and performance
of our products."
About Reparenco
Reparenco operates a two machine paper mill in the Netherlands
with a capacity of 675,000 tonnes together with a 750,000 tonne
recovered fibre operation. The mill comprises two machines with
capacity of 405,000 tonnes of recycled containerboard and 270,000
tonnes of graphic paper (with the potential for conversion to
containerboard).
Contacts
Garrett Quinn Melanie Farrell or Mark Kenny
Smurfit Kappa FTI Consulting
T: +353 1 202 71 80 T: +353 1 765 0883
E: ir@smurfitkappa.com E: smurfitkappa@fticonsulting.com
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading
providers of paper-based packaging solutions in the world, with
around 46,000 employees in approximately 370 production sites
across 35 countries and with revenue of EUR8.6 billion in 2017. We
are located in 22 countries in Europe, and 13 in the Americas. We
are the only large-scale pan-regional player in Latin America.
With our pro-active team, we relentlessly use our extensive
experience and expertise, supported by our scale, to open up
opportunities for our customers. We collaborate with
forward-thinking customers by sharing superior product knowledge,
market understanding and insights in packaging trends to ensure
business success in their markets. We have an unrivalled portfolio
of paper-packaging solutions, which is constantly updated with our
market-leading innovations. This is enhanced through the benefits
of our integration, with optimal paper design, logistics,
timeliness of service, and our packaging plants sourcing most of
their raw materials from our own paper mills.
smurfitkappa.com
Check out our microsite: openthefuture.info
Follow us on Twitter at @smurfitkappa and on LinkedIn at
'Smurfit Kappa'.
Forward-looking Statements
This announcement may include certain "forward looking
statements" with respect to the business, strategy and plans of
Smurfit Kappa and its expectations relating to Smurfit Kappa's
future financial condition and performance. Statements that are not
historical facts, including statements about Smurfit Kappa or
Smurfit Kappa's belief and expectation, are forward looking
statements. Words such as "believes", "anticipates", "estimates",
"expects", "intends", "aims", "potential", "will", "would",
"could", "considered" and "likely", and variations of these words
and similar future or conditional expressions are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements. By their nature, forward-looking
statements involve risk and uncertainty because they relate to
events and depend upon future circumstances that may or may not
occur.
Forward-looking statements only speak as of the date on which
they are made, and the events discussed in this announcement may
not occur. Subject to compliance with applicable law and
regulation, Smurfit Kappa is not under any obligation to update
publicly or revise forward looking statements, whether as a result
of new information, future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180702005829/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
July 03, 2018 02:00 ET (06:00 GMT)
Smurfit Kappa (LSE:SKG)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Smurfit Kappa (LSE:SKG)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024