Advent International sells Faerch Group to A.P. Møller Holding
Faerch Group, the Danish-based manufacturer of sustainable trays for the global food industry with subsidiaries in five European countries and more than 1,400 employees, has been acquired by A.P. Møller Holding from Advent International. Plesner has acted as lead counsels for Advent International on all legal matters connected with the transaction.
Faerch is the leading European manufacturer and supplier of trays for the global food industry and the world’s first integrated tray recycler offering its customers fully recyclable products. Following the agreement to acquire Sirap in November 2020, Faerch will be present through subsidiaries in the United Kingdom, France, the Netherlands, Spain, Germany, the Czech Republic, Italy and Poland.
The transaction values Faerch at approx. EUR 1,9bn.
Faerch will continue to operate as a separate company under the ownership of A.P. Møller Holding. The ambition is that under the new ownership Faerch will increase momentum even further in leading the transition of food packaging towards circularity and expand its tray-to-tray recycling business into additional countries.
Advent International is an international private equity fund founded in 1984 in the United States with presence in four different continents. As of 30 June 2020, Advent International managed funds of USD 58.4 billion.
A.P. Møller Holding is the parent company of the A.P. Møller Group, which includes A. P. Møller – Maersk, Danske Bank, Maersk Tankers, Maersk Drilling, KK Wind Solutions and A.P. Møller Capital. The purpose of the Group, which is owned by the A.P. Møller Foundation, is to develop ‘nyttig virksomhed’, i.e. to invest in and build businesses that have a positive impact on society.
The transaction is subject to customary governmental approvals and completion of Faerch's acquisition of Sirap's food packaging business in Italy, Poland and Spain. The transaction is expected to be completed in the first quarter of 2021.
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