11.25.14
Huhtamaki has sold its films business segment to DBAG Fund VI, a fund advised by Deutsche Beteiligungs AG (DBAG). The sale includes all locations worldwide. In addition to the German headquarters in Forchheim, the deal includes locations in Brazil, the U.S. and Thailand. DBAG is a publicly traded company based in Frankfurt, specializing in investments in well-positioned and medium-sized companies with growth potential. DBAG currently holds around 20 corporate investments and Huhtamaki Films will be the only film producer in its portfolio.
“DBAG is a good and dedicated owner with the necessary resources to promote the growth and development of the company today and in the future," comments Peter Wahsner, executive vice president of Huhtamaki Films. The sale of the enterprise to a strong financial investor is seen in a positive light by Huhtamaki Films and its staff, because "a change of ownership to DBAG offers the films business segment and its employees a great way to achieve its growth targets and develop its business further," Wahsner continues.
Signed over the weekend, the contract is still subject to approval by the German cartel authorities. It is likely to be concluded in late 2014 or early 2015. The Finnish packaging company, Huhtamaki Oyj, announced in July that it would assess the options for the films business segment, since the group wanted to strategically focus more on food packaging.
“DBAG is a good and dedicated owner with the necessary resources to promote the growth and development of the company today and in the future," comments Peter Wahsner, executive vice president of Huhtamaki Films. The sale of the enterprise to a strong financial investor is seen in a positive light by Huhtamaki Films and its staff, because "a change of ownership to DBAG offers the films business segment and its employees a great way to achieve its growth targets and develop its business further," Wahsner continues.
Signed over the weekend, the contract is still subject to approval by the German cartel authorities. It is likely to be concluded in late 2014 or early 2015. The Finnish packaging company, Huhtamaki Oyj, announced in July that it would assess the options for the films business segment, since the group wanted to strategically focus more on food packaging.