Superfos has signed an agreement to sell its operations in the US, Superfos Packaging Inc, to one of the world's largest players within plastic packaging, Berry Plastics Corporation. Enterprise value (debt-free value) amounts to approximately USD 82m and will generate a capital gain in Superfos in the interval of USD 43-48m.
Together with IK Investment Partners, Ratos acquired the Superfos conglomerate in 1999 in a buyout from the Danish stock exchange. In subsequent years a number of measures were carried out to streamline the structure and focus operations on injection-moulded plastic packaging. Today, Superfos develops, produces and sells injection-moulded packaging to the food, paint and chemical industries in 18 countries.
Superfos's US operations were started in 1986 and today have 200 employees with sales in 2008 of USD 46.8m which corresponds to approximately 10% of Superfos's total sales. More than 90% of the company's operations are located in Europe.
"We have our biggest market in Europe and see significant future growth opportunities. Therefore it is a logical step to sell the American operations now in order to focus on further development of our business in Europe," says Superfos CEO Hans Pettersson.
The deal is scheduled for completion no later than the middle of February 2010 and is subject to certain conditions.
Ratos's holding in Superfos amounts to 33%. Co-owners are IK Investment Partners and the management of Superfos.
For further information, please contact:
Hans Pettersson, CEO Superfos, +46 70 594 48 65
Thomas Hofvenstam, Senior Investment Manager Ratos, +46 8 700 17 81
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63