On 10 July 2012, the funds managed by Oaktree Capital Management LLC, which is the majority shareholder of NORDENIA INTERNATIONAL AG ("NORDENIA”) since 2006, a multinational manufacturer of consumer packaging solutions and hygiene components, agreed to sell NORDENIA to Mondi Group, subject to the approval of competition authorities and customary closing conditions.
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This was announced by Mondi Group today (11 July 2012) in a stock exchange announcement (www.mondigroup.com/announcement11July). The completion of the acquisition is expected in the fourth quarter of 2012.
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After completion of the transaction, it is planned that the existing management team of NORDENIA will lead the combined Consumer Packaging business unit from its current headquarter in Greven, Germany. NORDENIA’s companies (see below) will then also belong to the holding of the Mondi Group.
Peter Oswald, CEO Mondi Europe & International Division, and Ralph Landwehr, CEO NORDENIA, emphasize the benefits of a potential merger of two successful businesses: "Our customers are a key focus. We consider the possible merger a very good opportunity to create a leading consumer packaging business and to offer our customers a wider product range and continued excellent service”, say the two CEOs in unison.
The multinational consumer packaging solutions and hygiene components supplier NORDENIA has grown in fiscal year 2011. The Group sales increased by 9.9 percent to € 881.0 million, the sales volumes increased year on year by 1.4 percent to 244,670 tons. The earnings position of the NORDENIA group has held its level in 2011: The adjusted EBITDA (adjusted earnings before interest, taxes, depreciation, amortization, and other extraordinary expenses and income) amounted to € 101.1 million.