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RPC Group buys polythene film provider Nordfolien for €75m

StockMarketWire.com

Plastic products manufacturer RPC Group said it had acquired polythene film provider Nordfolien for €75m.

Nordfolien, which serves the industrial and consumer packaging markets, operated two sites in Germany and Poland, including in-house recycling capabilities, and had developed, patented and commercialised a number of market-leading products, RPC said.

The current Nordfolien management team would continue to operate the business from its current locations.

The deal would be funded from existing debt facilities, while the purchase price represented a pre-synergy Ebitda multiple of around seven times.

'The acquisition will significantly enhance our growth platform in flexibles whilst adding further innovation capability in an attractive market segment,' chief executive Pim Vervaat said.

'Participation in the ongoing consolidation of the European plastic packaging industry remains a core part of RPC's strategy, and through our focus on innovation, sustainability and operating in attractive end markets, we remain confident in continuing to grow organically through the cycle ahead of GDP.'



Story provided by StockMarketWire.com