BEWI progresses to final negotiations for acquisition of an insulation company in the Benelux region23-09-2021
BEWI progresses to final negotiations for acquisition of an insulation company in the Benelux region
BEWI, a leading provider of packaging, components, and insulation solutions, today announces that it has reached to final negotiations for the acquisition of an insulation company in the Benelux region.
As communicated in the company’s report for the second quarter and first half of 2021, growth initiatives remain a high priority in BEWI, and the company reported to be in advanced negotiations for the acquisition of an insulation company in the Benelux region. The negotiations have now progressed and BEWI expects that an agreement will be signed during October.
BEWI expects to acquire 100 per cent of the insulation company, primarily operating in the Benelux region, which is the largest and most important region for BEWI’s insulation segment.
The insulation company is well established, with a broad product offering, including both standard solutions and specialised products from various materials. In recent years, the company has had net sales in the range of 20 to 25 million euro. The company has historically demonstrated solid EBITDA margins.
The acquisition is conditional upon the parties entering into a final sale and purchase agreement, as well as other customary conditions specified in such agreement.
Further information about the transaction will be announced in due course.
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 11:10 CEST on 23 September 2021.