Mondi Group, an international paper and packaging company, has agreed to acquire 93.4% of the outstanding share capital of Nordenia International AG from funds managed by Oaktree Capital Management LP and certain other minority shareholders for a total cash consideration of €240 million (~ $294 million). Nordenia is an international supplier of consumer packaging solutions and hygiene components with 12 operating facilities located in seven countries across Europe,
North America, and Asia. In addition, a wholly owned greenfield plant currently being constructed in China is expected to begin operating in early 2014.
The acquisition is expected to be finalized in the fourth quarter, subject to customary completion conditions, including the approval of certain competition authorities.
“The acquisition of Nordenia offers Mondi Group a unique opportunity to create a leading consumer packaging business, build on long-term customer relationships across both businesses and establish a platform to expand further in high‐growth emerging markets,” said David Hathorn, chief executive of the Mondi Group.