US private equity group Oaktree Capital Management is to acquire German flexible packaging manufacturer Nordenia Iinternational for an undisclosed sum. The current management team under ceo Ralph Landwehr will remain in place. The transaction is expected to close in the first quarter of 2006.
"The film and flexible packaging market offers great growth potential," comments Hermann T Dambach, managing director of Oaktree. Nordenia has a proven track record in the quality and innovation of its products. We want to support the sustainable growth of the group."
Nordenia is among Europe's leading flexible packaging companies, with some 3,000 employees in Europe, North America, Asia and Africa. During 2005, the group's sales rose by 8 per cent to €430M. It will be Oaktree's third acquisition in Germany during 2005.
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