Smurfit Kappa GrpPLC Acquisition
31 Octobre 2018 - 8:00AM
UK Regulatory
TIDMSKG
Smurfit Kappa to expand its Southeast European footprint with
the acquisition of the largest integrated packaging business in
Serbia
SKG.ID SKG.LN
Smurfit Kappa Group plc ('SKG' or the 'Group'), one of the
world's largest manufacturers of paper-based packaging products,
with operations in Europe and the Americas, is pleased to announce
that it has agreed to acquire Fabrika Hartije d.o.o. Beograd
('FHB') paper mill and Avala Ada d.o.o. Beograd ('Avala Ada')
corrugated plant, in Belgrade, for a consideration of EUR133
million (the 'Transaction') from Kappa Star Group.
The acquisition will expand SKG's geographic footprint and
provide for full containerboard integration in the Group's
packaging operations in Southeast Europe. FHB and Avala Ada are
well invested businesses, with a leading market position in Serbia
and solid positions in adjacent countries.
The containerboard mill holds one recently upgraded recycled
containerboard machine with a current capacity of 120,000 tonnes
and significant potential to drive synergies and further increase
capacity with a limited investment of capital. The corrugated plant
has a current production of approximately 110 million square metres
and produces both corrugated and laminated packaging. Its customer
base is predominantly composed of local and national customers,
providing a strong platform for organic growth with SKG's Pan
European and Multi National customers in the region.
The transaction reflects a pre-synergy multiple of 7.6 times the
expected full year 2018 EBITDA and the consideration will be funded
from the Group's existing resources. It is expected that the
Transaction will complete by year end subject to customary
completion conditions.
Transaction Highlights
-- Acquisition of packaging business provides opportunity to further
expand SKG's Pan European footprint while entering a new,
well
consolidated and growing market.
-- Acquisition of high quality containerboard mill with a current
capacity of 120,000 tonnes securing paper integration in the
region
with significant production expansion potential.
-- Completed at pre-synergy multiple of 7.6 times the expected full year
2018 EBITDA.
Smurfit Kappa Group CEO, Tony Smurfit, commented:"We are pleased
to announce our agreement to acquire FHB and Avala Ada, which will
be a cornerstone to the expansion of our business in Southeast
Europe. We look forward to welcoming their experienced teams into
the Smurfit Kappa Group, and we are confident their expertise and
the high quality of the companies' asset bases will provide us with
an excellent platform to grow in the region and further strengthen
our European offering for our new and existing customers.
ENDS
Contact
Garrett Quinn FTI Consulting
Smurfit Kappa Group
T: +353 1 202 7180 T: +353 1 765 0800
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 45,000 employees in approximately 350 production sites
across 33 countries and with revenue of EUR8.6 billion in 2017. We
are located in 21 countries in Europe, and 12 in the Americas. We
are the only large-scale pan-regional player in Latin America.
With our proactive 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.
Our products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.
Follow us on Twitter at @smurfitkappa and on LinkedIn at
'Smurfit Kappa'.
www.smurfitkappa.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181031005281/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 31, 2018 03:00 ET (07:00 GMT)
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