STOCKHOLM, Sweden, Jan. 28, 2002 (PRIMEZONE) -- Today Superfos has signed a Letter of Intent with Danish VT Holding to acquire Jotipac Group. The negotiated price amounts to DKK 470m for all shares in the Jotipac Group A/S. The Letter of Intent is subject to a satisfactory due diligence and the approval by the competition authorities.
Jotipac Group is among the leading European manufacturers of high- quality injection-moulded plastic packaging. The company's turnover is in the order of DKK 510m. Jotipac Group employs about 280 people with the headquarter in Randers in Denmark and three factories in Randers, Wetteren in Belgium and Tenhult in Sweden. Most of Jotipac Group's product range relates to retail food customers.
The planned acquisition is in line with Superfos Packaging's continued growth strategy within its core business of injection-moulded plastic packaging, where the transaction will make Superfos the leading European manufacturer. Combining the operations of Superfos Packaging Consumer Division and Jotipac Group will offer a wide range of synergies in the processing area as well as in products and purchasing. In addition, the acquisition will expand Superfos' existing European market coverage.
Closing is expected by the end of February.
Superfos Packaging comprises 14 factories in Europe as well as one US- based factory. Turnover is in the region of DKK 1.9bn, and the company has about 1,800 employees. Superfos is owned by the Industri Kapital 1997 Fund (67 %) and Ratos AB (33 %).
Financial calendar Ratos 2002: Year-end report for 2001 21 February Three-month report 5 May Six-month report 26 August Nine-month report 13 November Annual General Meeting 10 April
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 KK, Haendig, Haglofs, Hilding Anders, Hilton Group, HL Display, Industri Kapital, Intervect, Kronans Droghandel, Lindab, Martinsson, Programmera, Q-Labs, Superfos and Telia Overseas.
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