Superfos to sell US operations
(Thomson Reuters ONE) - Superfos has signed an agreement to sell its operations in the US,Superfos Packaging Inc, to one of the world's largest players withinplastic packaging, Berry Plastics Corporation. Enterprise value(debt-free value) amounts to approximately USD 82m and will generatea capital gain in Superfos in the interval of USD 43-48m.Together with IK Investment Partners, Ratos acquired the Superfosconglomerate in 1999 in a buyout from the Danish stock exchange. Insubsequent years a number of measures were carried out to streamlinethe structure and focus operations on injection-moulded plasticpackaging. Today, Superfos develops, produces and sellsinjection-moulded packaging to the food, paint and chemicalindustries in 18 countries.Superfos's US operations were started in 1986 and today have 200employees with sales in 2008 of USD 46.8m which corresponds toapproximately 10% of Superfos's total sales. More than 90% of thecompany's operations are located in Europe."We have our biggest market in Europe and see significant futuregrowth opportunities. Therefore it is a logical step to sell theAmerican operations now in order to focus on further development ofour business in Europe," says Superfos CEO Hans Pettersson.The deal is scheduled for completion no later than the middle ofFebruary 2010 and is subject to certain conditions.Ratos's holding in Superfos amounts to 33%. Co-owners are IKInvestment Partners and the management of Superfos.For further information, please contact:Hans Pettersson, CEO Superfos, +46 70 594 48 65Thomas Hofvenstam, Senior Investment Manager Ratos, +46 8 700 17 81Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +468 700 17 63Financial calendar from Ratos:Year-end report 2009 18 February 2010Annual General Meeting 2010 15 April 2010Interim Report January - March 2010 6 May 2010Interim Report January - June 2010 20 August 2010Interim Report January - September 2010 4 November 2010Ratos is a listed private equity company. The business concept is tomaximise shareholder value over time by investing in, developing anddivesting primarily unlisted companies. Ratos offers investors aunique investment opportunity. Ratos's equity is approximately SEK 15billion and has a market capitalisation of approximately SEK 28billion. Ratos's holdings include AH Industries, Anticimex, ArcusGruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, HafaBathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC,Medisize, Scandinavian Business Seating, Superfos and Other holdings.http://hugin.info/1180/R/1355485/329032.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 17.11.2009 - 08:31 Uhr
Sprache: Deutsch
News-ID 8480
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