BEWI announces intention to acquire Scandinavian paper packaging company28-02-2022
BEWI announces intention to acquire Scandinavian paper packaging company
BEWI, a leading provider of packaging, components, and insulation solutions, announces that the company has entered a letter of intent to acquire 100 per cent of a leading Scandinavian paper packaging company.
The target company is mainly manufacturing fibre-based packaging products, with an annual revenue in the range of EUR 12 to 14 million, with solid EBITDA margins in the range of approximately 18 to 20 per cent.
“Through this acquisition we are strengthening our offering within fibre-based packaging, in line with our strategy to provide our customers with complementary and sustainable solutions,” says Christian Bekken, CEO of BEWI.
The acquisition is conditional upon a signed sale and purchase agreement, as well as customary conditions, and closing is expected in the second quarter of 2022. The total consideration is expected to be in line with BEWI’s historical M&As, i.e., with an EV/ EBITDA multiple in the range of 5 to 7.
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959
About BEWI ASA
BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 28 February 2022.