Finland's Huhtamaki group has sold its films business to DBAG Fund VI, a fund advised by Deutsche Beteiligungs (DBAG). The sale includes all locations worldwide (in Brazil, the US and Thailand), apart from the German headquarters in Forchheim.
Huhtamaki Films had net sales totalling €2.3 billion in 2013. It serves the foodservice and consumer goods markets with approximately 14,700 people in 62 manufacturing units and several sales offices in 30 countries. DBAG, based in Frankfurt, specialises in investments in well positioned and medium sized companies with growth potential. It currently holds around 20 corporate investments and Huhtamaki Films will be the only film producer in its portfolio.
"DBAG is a good and dedicated owner with the necessary resources to promote the growth and development of the company today and in the future," comments Peter Wahsner, executive vice president of Huhtamaki Films. "A change of ownership to DBAG offers the films business segment and its employees a great way to achieve its growth targets and develop its business further."
The deal, subject to approval by the German cartel authorities, is likely to be concluded before the end of 2014, or early in 2015 at the latest.
www.films.huhtamaki.com
