OSLO, NORWAY: BEWI has signed an agreement to acquire the Norwegian paper packaging company Trondhjems Eskefabrikk AS.
Trondhjems Eskefabrikk is manufacturing fibre-based packaging products, carton boxes to the food industry, which are 100 per cent recyclable. Also, a significant share of the raw material used by Trondhjems Eskefabrikk is recycled fibres.
“The acquisition of Trondhjems Eskefabrikk provides us with an extended offering of recyclable and recycled products. This is in line with our strategy to provide our customers with complementary solutions, at the same time supporting our sustainability target to increase the use of non-fossil raw materials,” says Christian Bekken, CEO of BEWI.
For 2021, Trondhjems Eskefabrikk had a revenue of approximately EUR 13.5 million, up from EUR 11.7 million in 2020. The total consideration will be settled in cash upon closing and is in line with BEWIs historical M&As, with an EV/EBITDA multiple in the range of 5 to 7.
The acquisition is conditional upon customary conditions, and closing is expected in the second quarter of 2022.
BEWI is an international provider of packaging, components, and insulation solutions.