PRZOOM - /newswire/ -
Gauteng, South Africa, 2017/02/06 - Mondi Group has acquired 100% of the outstanding share capital of Excelsior Technologies Limited (“Excelsior” or the “Company”) from funds managed by Endless LLP and certain other minority shareholders - ExcelTechUK.com / MondiGroup.com.
As part of the dual listed company structure, Mondi Limited and Mondi plc (together “Mondi Group” or “Mondi”) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency Rules and the Listing Rules of the United Kingdom Listing Authority.
Mondi Group has acquired 100% of the outstanding share capital of Excelsior Technologies Limited (“Excelsior” or the “Company”) from funds managed by Endless LLP and certain other minority shareholders, for a total consideration of £33 million (€38 million), on a debt and cash-free basis.
Excelsior (exceltechuk.com) is a vertically-integrated producer of innovative flexible packaging solutions, mainly for food applications, with a unique packaging technology for microwave steam cooking. With two plants, located in Deeside (Northern Wales, UK) and Nelson (Lancashire, UK) the Company serves both domestic and US customers. For the year ended 31 December 2016, Excelsior generated revenues of £39 million (€47 million).
Commenting on the acquisition, David Hathorn, Chief executive of Mondi Group, said: “The acquisition of Excelsior supports the development of our Consumer Packaging business in high growth product applications. Its leading microwave steam cooking packaging technology complements and enhances our global food packaging offering”.
Contact: Andrew King - Group CFO
T: +27(0)11 994 5415 - E: andrew.king[.]mondigroup.com.
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At Mondi, our products protect and preserve the things that matter.
Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. We offer over 100 packaging and paper products, customised into more than 100,000 different solutions for customers, end consumers and industrial end uses - touching the lives of millions of people every day. In 2015, Mondi had revenues of €6.8 billion and a return on capital employed of 20.5%.
The Mondi Group (mondigroup.com) is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. Our innovative technologies and products can be found in a variety of applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper. Our key customers are in industries such as automotive; building and construction; chemicals; food and beverage; home and personal care; medical and pharmaceutical; packaging and paper converting; pet care; and office and professional printing.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI.
For us, acting sustainably makes good business sense and is part of the way we work every day. We have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.
Incorporated in the Republic of South Africa
Registration number: 1967/013038/06
JSE share code: MND ISIN: ZAE000156550
Incorporated in England and Wales
Registered number: 6209386
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI