CVC Capital Partners recently announced that funds advised by CVC Capital Partners (CVC) have signed a binding agreement to acquire ÅR Packaging Group AB (AR Packaging). Under the terms of the transaction, CVC will acquire 100% of the company from its current owners, Ahlstrom Capital and Accent Equity.
Founded in 2011 through the merger of A&R Carton and Flextrus, AR Packaging is one of Europe’s leading packaging companies with sales of approximately €560 million (pro forma 2015) and 2,200 employees across 17 factories in 9 countries. The company has performed strongly in recent years, posting a 27% increase in net sales last year.
Headquartered in Lund, Sweden, the group is divided into three divisions: Branded Products, Barrier Packaging and Food Packaging. Its products and solutions are predominantly used for folding carton and flexible packaging, as well as machinery systems, packaging design and development. AR Packaging has long-standing customer relationships with many of the world’s leading consumer brands in the food and tobacco segments.
The completion of the transaction is subject to customary regulatory clearances.
Herbst Kinsky advised CVC Capital Partners in this transaction regarding all aspects of Austrian law including the financing of the acquisition. The team of Herbst Kinsky was led by Christoph Wildmoser (Private Equity/Finance) supported by Philipp Baubin (Finance), Alexander Weber (Corporate/Private Equity), Carl Walderdorff (Finance), Matthäus Metzler (Regulatory), Bianca Möller (Commercial), Tanja Lang (Employment) and Johannes Frank (Real Estate). The Swedish firm Cederquist was Lead Counsel.
CVC Capital Partners was also advised by Citigroup Global Markets, KPMG and Bain&Company.