Mondi to Acquire Duropack's Containerboard Mill, Box Plants - Papermart

Mondi to Acquire Duropack's Containerboard Mill, Box Plants

September 14, 2012

Mondi Group said that it has signed an agreement with Duropack GmbH for the acquisition of Duropack’s operations in Germany and the Czech Republic for EUR 125 million in cash.

The deal includes a corrugated box plant – Duropack Wellpappe in Ansbach, Germany; and a recycled containerboard mill and corrugated box plant – Duropack Bupak in Ceske Budejovice, Czech Republic. The corrugated box plants consume approximately 130,000 tonnes per year of containerboard, while the recycled containerboard mill has the capacity to produce 105,000 tonnes per year.

Mondi said it will assume about EUR 5 million net cash upon completion of the deal, resulting in an enterprise value of EUR 120 million. In 2011, the the operations included in the deal generated unaudited pro forma consolidated revenues of EUR 160 million and unaudited pro forma consolidated adjusted EBITDA of EUR 23 million.

Mondi said the acquisition is in line with its strategy to strengthen its leading market position in corrugated packaging in central and eastern Europe.