Billerud has agreed to divest Managed Packaging, offering packaging solutions to global brand owners, to investment company Mimir Group. The transaction is planned to be completed in August 2023 and is expected to result in a positive result effect for Billerud of approx. USD 1.89 million.
Jul 13, 2023
Billerud has come to an agreement with Mimir Group, an investment company, about a divestment of Managed Packaging, which offers packaging solutions to global brand owners. The intention to divest the business unit Managed Packaging is a consequence of Billerud’s focus on packaging materials, which means a reduced strategic importance of service offerings. The sale will reduce complexity and positively impact Billerud’s EBITDA margin.
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The transaction is planned to be completed in August 2023 and is expected to result in a positive result effect for Billerud of approx. USD 1.89 million, which will be reported as an item affecting comparability in the third quarter. The planned divestment’s impact on Billerud’s EBITDA and net debt will be immaterial.
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“Managed Packaging has contributed to Billerud with expertise in optimization of fiber-based packaging solutions for global brand owners, but there are no synergies with our core business, which is our focus in the years to come. Managed Packaging will now get an owner who wants to develop the business, to the benefit of employees and customers,” says Christoph Michalski, President and CEO.
