Mondi Group signs agreement to acquire KSP
Mondi Group has signed an agreement for the acquisition of 95% of the outstanding share capital in KSP, Co. and related interests (“KSP”).
02 December 2015
Established in 1973, KSP is a flexible packaging company specialised in the production of high-quality spouted and retort stand-up pouches for the food, pet food and beverage industries with its main manufacturing site near Seoul, South Korea and an interest in a plant near Bangkok, Thailand. KSP exports approximately two thirds of its production, mainly to the US, Europe and other Asian countries. For the twelve months ended 31 December 2014, KSP generated revenues of approximately USD50 million.
KSP offers an excellent product fit with Mondi’s stand-up pouch operations in Korneuburg, Austria and Jackson, US and will enable Mondi to better serve its customers in the US and Asia.
Commenting on the acquisition, David Hathorn, Chief Executive of Mondi Group, said: “This acquisition further supports Mondi’s strategy to develop in high value-added, high-growth markets in our Consumer Packaging business.”
The transaction remains subject to competition clearance and other customary closing conditions and is expected to complete during the fourth quarter of 2015.
Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. We offer over 100 packaging and paper products, customised into more than 100,000 different solutions for customers and end consumers. In 2014, Mondi had revenues of €6.4 billion and a return on capital employed of 17.2%.
The Mondi Group is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. Our innovative technologies and products can be found in a variety of applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper. Our key customers are in industries such as automotive; building and construction; chemicals; food and beverage; home and personal care; medical and pharmaceutical; packaging and paper converting; pet care; and office and professional printing.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI.
For us, sustainable development makes good business sense. We don’t just talk about sustainability; we make it part of the way we work every day. We have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
(Incorporated in England and Wales)
(Registration number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together “Mondi Group” or “Mondi”) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Rules and Transparency Rules and/or the Listing Rules of the United Kingdom Listing Authority.