For approximately 272 million euros, the European paper and packaging producer Sappi has signed the sale of three of its 10 European paper mills to Aurelius.
Aurelius is a European investment fund that has been active in the industrial sector for several years and in the graphic industry market since last month. It is in fact the future owner of the offset products division of Agfa-Gevaert the Belgian group having concluded a sale agreement in August.
The new transaction involves the integrated mill in Kirkniemi, Finland, which produces coated papers for the global publishing industry, the Maastricht paper mill in the Netherlands, which produces coated woodfree papers and boards for printers and packaging converters worldwide, and the integrated mill in Stockstadt, Germany, which prepares coated and uncoated woodfree papers for the European printing market.
Between the three of them, they employ about 1,400 people.
Companies with high value creation potential for Aurelius
"Aurelius strives to identify companies with high value creation potential in various markets and industries in Europe, says a spokesperson for the investment fund. Our latest acquisitions, Footasylum (British chain of sportswear stores, acquired in August NDLR) agfa Offset Solutions and Sappi's three paper mills underscore this ambition."
He adds: "As with many industry segments, the graphic arts market is of interest to us - it is well suited to in-depth operational support from our experienced workgroup. Agfa Offset Solutions and Sappi's three paper mills are examples of companies that will benefit from our operational expertise and support, enabling them to access value-creation opportunities."
With this sale, Sappi, which says it has received firm offers from several parties, wants to focus on the European commercial printing market and mainly on flexible packaging, functional papers, self-adhesives including glassine, labels and dye-sublimation paper grades.
