Mimir has agreed with Billerud AB (OM:BILL) about a divestment of Managed Packaging, which offers packaging solutions to global brand owners. The transaction is expected to be completed during August 2023.
The intention to divest the business unit Managed Packaging to Mimir is a consequence of Billerud’s focus on packaging materials, which means a reduced strategic importance of service offerings. The sale will reduce complexity and positively impact Billerud’s EBITDA margin.
“Managed Packaging has contributed to Billerud with expertise in optimization of fiber-based packaging solutions for global brand owners, but there are no synergies with our core business, which is our focus in the years to come. Managed Packaging will now get an owner who wants to develop the business, to the benefit of employees and customers,” says Christoph Michalski, President and CEO.
“We are pleased to provide a divestiture solution to Billerud and we are excited to partner with the employees of Managed Packaging in developing its business as a standalone enterprise. Mimir Group’s expertise in carve-outs and business development on a global scale will become very useful in Managed Packaging’s European, Asian and North American trading environment,” says Erik Bork, CEO of Mimir Group.
About Managed Packaging
Managed Packaging offers customized packaging solutions to global brands and retail chains with manufacturing in Asia and has a large network of production partners. Managed Packaging has 143 employees in Asia, Europe and USA, and had in 2022 net sales of SEK 770 million.
About Mimir
Mimir is a global perpetual investment firm acquiring non-core business units of larger corporations and companies that need operationally oriented ownership. We deliver transaction solutions to demanding Sellers in many industries and invest for the long term. Our team has specific expertise in technology, telecoms, manufacturing, industrials, pharma & chemicals, medical devices and paper & pulp. The partners of Mimir combine senior operating backgrounds from a range of industries, with extensive experience from executing complex multijurisdictional M&A transactions.
Joakim Notö, Group Chairman & Managing Partner, Mimir. Tel: +46 (0)739 86 36 37, joakim.noto@mimirinvest.com