Walki to Sell Majority of Industrial Packaging Business to Mondi
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Walki Group, Espoo, Finland, has agreed to sell its Pietarsaari plant in Finland and its Wroclaw plant in Poland to Mondi, South Africa. The two facilities, with aggregated sales of EUR 113 million in 2014 constitute the major part of Walki's industrial packaging business, producing primarily packaging material for the paper industry as well as for the corrugated board industry. Post-transaction, Walki will have sales of approximately EUR 200 million and eight manufacturing plants.
The proposed transaction enables Walki to focus all its resources on the growing markets of energy saving laminates and membranes for building purposes, as well as on selected segments of the consumer packaging market. The funds obtained from the partial exit will be used to strengthen Walki's balance sheet and finance growth investments.
The planned transaction is subject to competition clearance. Walki Group is a portfolio company of the CapMan Buyout VIII fund and the CapMan Mezzanine IV fund.
