Mondi Group has signed an agreement to acquire 100% of the outstanding share capital of LLC Beepack (Beepack) from a private investor for a consideration of RUB2,825 million (€41 million) on a debt-and-cash-free basis.
Beepacks plant in Lebedyan (Lipetsk region of Russia, around 400 km south of Moscow) makes a range of corrugated packaging trays and boxes for food and agricultural products including beverages, fruit and vegetables, poultry and dairy. Customers include local Russian and international producers.
For the year ended 31 December 2015 Beepack generated revenues of RUB2,782 million (€41 million) and adjusted EBITDA of RUB462 million (€7 million).
At 9:19am: (LON:MNDI) Mondi PLC share price was +2.5p at 1679.5p