The Competition authorities concerned have now approved Superfos´s acquisition of Danish Jotipac Group from VT Holding. Superfos acquires all shares in the Jotipac Group A/S for DKK 470m. In addition Superfos will take over net interest-bearing liabilities of DKK 150m. In conjunction with the purchase Ratos will inject DKK 66m in Superfos by participating in a new share issue.
Jotipac Group is among the leading European manufacturers of high-quality injection-moulded plastic packaging. The company's turnover in 2001 amounted to DKK 510m. Jotipac Group employs 300 people. EBITA was DKK 75.5m. Most of Jotipac Group's product range relates to retail food customers.
The acquisition is in line with Superfos Packaging's continued growth strategy within its core business of injection-moulded plastic packaging, where the transaction will make Superfos the leading European manufacturer. Combining the operations of Superfos Packaging Consumer Division and Jotipac Group offers a wide range of synergies in the processing area as well as in products and purchasing. In addition, the acquisition will expand Superfos's existing European market coverage.
Superfos Packaging operates 14 factories in Europe as well as one US-based factory. Turnover in 2001 amounted to DKK 2 143m, and the company has approximately 2 100 employees. Ratos owns 33 % of Superfos while Industri Kapital 1997 Fund controls the remaining 67 %.
For further information, contact:
Arne Karlsson, CEO Ratos AB, +46 8 700 17 00
Kim Andersen, President & CEO of Superfos Packaging, +45 45 67 00 00