STOCKHOLM, Sweden, March 26, 2002 (PRIMEZONE) -- 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-molded 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-molded 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 U.S.-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%.
Financial calendar 2002:
Three-month report May 13
Six-month report August 26
Nine-month report November 13
Annual General Meeting April 10
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos thus offers stock market players a unique investment opportunity. The net asset value of Ratos's investments is approximately SEK 9 billion. Ratos's holdings include Arcorus, Atle Industri, Camfil, Capona, Dahl, DataVis, DIAB, Dynal Biotech, Esselte, Exceed, Gadelius, Haendig, Haglofs, Hilding Anders, HL Display, Industri Kapital, Intervect, Kronans Droghandel, Lindab, Martinsson, Programmera, Q-Labs, Superfos and Telia Overseas.
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