Mondi to Acquire Duropack's Containerboard Mill, Box Plants in Germany and Czech Republic
Sept. 14, 2012 - Mondi Group said that it has signed an agreement with Duropack GmbH for the acquisition of Duropack’s operations in Germany and the Czech Republic for EUR 125 million in cash.
The deal includes a corrugated box plant — Duropack Wellpappe — in Ansbach, Germany; and a recycled containerboard mill and corrugated box plant — Duropack Bupak — in Ceske Budejovice, Czech Republic.
The corrugated box plants consume approximately 130,000 tonnes per year of containerboard, while the recycled containerboard mill has the capacity to produce 105,000 tonnes per year.
Mondi said it will assume about EUR 5 million net cash upon completion of the deal, resulting in an enterprise value of EUR 120 million.
In 2011, the the operations included in the deal generated unaudited pro forma consolidated revenues of EUR 160 million and unaudited pro forma consolidated adjusted EBITDA of EUR 23 million.
Mondi said the acquisition is in line with its strategy to strengthen its leading market position in corrugated packaging in central and eastern Europe.
Completion of the deal is conditional on the approval by the relevant competition authorities and other customary closing conditions.
Mondi is an international paper and packaging Group with production operations across 28 countries and revenues of EUR 5.7 billion in 2011. The Group's key operations are located in central Europe, Russia and South Africa and as at the end of 2011, Mondi employed 23,400 people.
SOURCE: Mondi Group and Duropack Group