Austria's B&C buys packaging maker Schur Flexibles in 900 million euro deal
17/05/2021 17:25
FRANKFURT, May 17 (Reuters) - Austrian investor B&C Group
said on Monday it has agreed to buy a 80% stake in Schur
Flexibles from buyout group Lindsay Goldberg in a deal valuing
the packaging maker at 900 million euros ($1.09 billion),
including debt.
Headquartered in Austria, Schur Flexibles makes films, lids
and skins to package food, cosmetics and pharmaceutical
products.
In 2020, Schur Flexibles, which employs 2,100 staff, posted
earnings before interest, tax, depreciation and amortization of
just above 90 million euros on sales of 540 million euros,
according to a person close to the matter.
Lindsay Goldberg, which first invested in Schur Flexibles in
2016, is retaining a 20% stake in the company.
B&C Group's holdings include stakes in AMAG Austria Metall
AMAV.VI , Lenzing LENV.VI and Semperit SMPV.VI .
($1 = 0.8230 euros)
(Reporting by Arno Schuetze
Editing by Paul Simao)
((arno.schuetze@thomsonreuters.com; +49 30220133648;))