Dutch investment fund acquires Jutland based Glud & Marstrand

(2005.03.09)

Dutch investment fund ABN Amro Capital has acquired Glud & Marstrand, a Jutland based metal packaging company for an undisclosed sum

Dutch investment fund ABN Amro Capital has acquired Glud & Marstrand, a Jutland based metal packaging company for an undisclosed sum. According to financial daily newspaper Børsen which reports the news, the price is in the region of DKK 1.5 bn (USD 270 mn) including debts, corresponding to approx. 6 times the estimated operating profit.

 

Prior to the acquisition, Glud & Marstrand was owned by Axcel (40%), Kirkbi (40%) and Nordea Pension (20%). Christian Frigast, managing director of Axcel, a private equity company based in Copenhagen, says the price is very satisfactory and delivers a good ROI for the three years Axcel has been an owner. During this period, Glud & Marstrand increased its annual revenues by almost 30% to DKK 1.6 bn (USD 288 mn).

 

Glud & Marstrand is Scandinavia's largest producer of metal packaging. It was founded in 1879 and employs approx. 1200 people. The company has five factories in Denmark and one in Sweden.

 

Link > Glud & Marstrand 

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last updated: 2005.03.08