BEWiSynbra Group AB (publ) (“BEWiSynbra”), a leading international provider of insulation and packaging solutions, today announces the acquisition of BEWi Drift Holding AS (“BDH”) and that an extraordinary general meeting has resolved on a directed share issue.
Jonas Siljeskär, CEO BEWiSynbra Group comments: “Our strategic priorities are to continue to grow, further expand our circular activities and continue to innovate new sustainable solutions for our customers. With the acquisition of BDH, we further strengthen our position as a major international provider of insulation and packaging solutions, in line with our long-term strategy for growth and diversification.”
BEWiSynbra acquires the Norwegian company BDH, that will provide BEWiSynbra with an expanded product portfolio and geographic reach, for a total consideration of NOK 400 million, of which NOK 100 million are paid through a directed issue of shares in BEWiSynbra, and the remaining NOK 300 million as a cash consideration. An extraordinary general meeting in BEWiSynbra today resolved to increase BEWiSynbra’s share capital by no more than SEK 48,537.58 through a directed share issue of not more than 5,005,691 shares as part of the payment in the acquisition. The right to subscribe for the new shares shall, with deviation from the shareholders’ pre-emption rights, exclusively belong to BEWi Holding AS, the seller of BDH.
BDH is a supplier of packaging products for use on land and at sea and solutions for insulation. The company is a frontrunner within its industry with regards to the change into renewables and a circular economy reducing environmental footprint. BDH primarily comprise of four operating subsidiaries; Nordic Emballasje, Norplasta, Biobe and Tommen Gram. The company has three production facilities in Norway, and sales representation in Norway, Iceland, Sweden, Denmark, Russia and Lithuania. In 2019, BDH’s revenue and EBITDA were approximately NOK 850 million and NOK 55 million (local GAAP) respectively.
Following the acquisition of BDH, BEWiSynbra controls a total of 38 facilities in Europe. In the first half of 2020, BEWiSynbra delivered Net Sales of ~SEK 2.7 billion and an adjusted EBITDA of ~SEK 378 million, when including BDH on a pro forma basis (unaudited).
In connection with the acquisition of BDH, BEWiSynbra has also entered into a binding agreement to divest certain real estate properties in Denmark for a cash consideration of approximately SEK 100 million. Through the divestment BEWiSynbra realise values and release capital, increasing the financial flexibility in support of the company’s strategy to further invest in growth opportunities.
For further information, please contact:
Jonas Siljeskär, CEO BEWiSynbra Group, tel: +46 70 600 37 06
Hanna Laurentz, Director of Communication and IR, BEWiSynbra, tel: +46 70 177 4400
Charlotte Knudsen, Media and IR contact Norway, tel: +47 9756 1959
About BEWiSynbra Group AB
BEWiSynbra Group is a leading international provider of packaging, components and insulation solutions, and the largest integrated Expandable Polystyrene (EPS) producer in Europe. The commitment to sustainability is integrated throughout the value chain, from the production of raw materials and end goods to the recycling of used products. Since the start in the Norwegian archipelago at Frøya in 1980, the company create value for customers by offering sustainable solutions in innovative and efficient ways. With a vision to protect people and goods for a better every day, BEWiSynbra is leading the change towards a circular economy.
The information is such that BEWiSynbra Group AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation (596/2014/EU). The information was submitted for publication, through the agency of the contact persons set out above, at 23:30 CET on 17 August 2020.