01.01.18
Mondi Group has signed an agreement to acquire 100% of the outstanding shares in Powerflute Group Holdings Oy, a division of Nordic Packaging and Container Holdings, for a total consideration of €365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tons of high-performance semi-chemical fluting. Powerflute’s premium semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, but also other end-uses such as electronics, chemicals and pharmaceuticals.
For the year ended Dec. 31, 2017, the Company is expected to generate revenues of approximately €183 million and unaudited pro-forma adjusted EBITDA of nearly €42 million. Powerflute will be integrated into Mondi’s Packaging Paper Business Unit.
“The acquisition of Powerflute supports our strategy of investing in high-quality packaging and paper assets,” Peter Oswald, chief executive of Mondi Group, said.
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tons of high-performance semi-chemical fluting. Powerflute’s premium semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, but also other end-uses such as electronics, chemicals and pharmaceuticals.
For the year ended Dec. 31, 2017, the Company is expected to generate revenues of approximately €183 million and unaudited pro-forma adjusted EBITDA of nearly €42 million. Powerflute will be integrated into Mondi’s Packaging Paper Business Unit.
“The acquisition of Powerflute supports our strategy of investing in high-quality packaging and paper assets,” Peter Oswald, chief executive of Mondi Group, said.