DGAP-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Mutares signed a binding offer to acquire La Rochette from RDM Group
- Expected second acquisition in 2021 for Mutares
- Target company with close to EUR 120 million in revenues and approx. 300 employees
- Manufacturer of Folding Box Boards (FBB) for the pharma and food industry
Munich/Milan, 16 February 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed a put option for the purchase of RDM La Rochette S.A.S. from the Italian Reno De Medici (RDM) Group. The company is located in Valgelon-La Rochette, France and is a producer of Folding Boxboard based on virgin fibers (FBB) for among others the pharma and food industry. The transaction is still subject to the fulfilment of conditions and is expected to close in Q2 2021.
The target company will strengthen the Goods & Services segment as a new platform investment. It is the main producer in the FBB market in Southern Europe, with France being the key market. La Rochette mainly serves the pharma and food industry where the company has a solid and historic presence. The end-consumer food marketcovers approx. 50% of the demand in Europe.
La Rochette lays a strong focus on the natural aspect of its packaging, as market demand for more sustainable and eco-friendly packaging increases, the company was awarded several environmental certificates such as the Forest Stewardship Council (FSC), an environmental seal that rewards companies with outstanding traceability of their production and helps promote responsible management of the world's forests. In 2020 the company generated revenues of approx. EUR 120 million and employed around 300 people and an operational profitability of high single digit percent.
The acquisition of La Rochette will be the next step accelerating the growth of Mutares as promised by Mutares after successfully executing the increase of the outstanding bond, which enables limited equity contribution for Mutares within the transaction.
Company profile Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. With for aim a ROIC (Return on Invested Capital) of 7 to 10 times on the total investment with a focus on sustainable growth of the portfolio companies. In 2020, Mutares SE & Co. KGaA expects generated consolidated revenues of approx. EUR 1.8 billion employing more than 15,000 people worldwide. Based on this, consolidated revenues are expected to increase to approximately EUR 3.0 billion by 2023. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and a performance dividend, which has been stable above 10% dividend yield in the past years. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).
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16.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Mutares SE & Co. KGaA
+49 (0)89-9292 776-0
+49 (0)89-9292 776-22
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
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