Viscofan : Viscofan acquires Vector’s companies in Europe and United States
October 21, 2016 at 02:38 am EDT
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Viscofan Group has signed the SPA to acquire the 100% of the shares of Vector USA and Vector Europe including its subsidiaries in Europe (Vector Packaging Europe and Vector UK) for a total cash value of 3.4 Millions of US$ to a group of private investors
After this acquisition, Viscofan Group mainstreams all the assets of these companies and assumes the net bank debt amounting 10.3 Million US$.
After more than 40 years in the industry, Vector has achieved a high acknowledgment as plastic casing producer and as supplier of innovative solutions based on plastic technology for the food industry and other markets. Vector production centres are located in Hasselt (Belgium) and Kentland (Indiana, USA) and distribute their products mainly in North America, South America and Europe.
For the fiscal year 2016 the scope of acquired companies aims to achieve pro forma consolidated revenue close to 30 Million US$, and recurrent pro forma EBITDA close to 2.5 Million US$.
After this acquisition, Viscofan Group strengthens its positioning in plastic technology, widens its product portfolio and enhances production capacity for the main markets for this type of casings: USA and Europe. Moreover, this operation will bring synergies that will improve the profitability of the acquired companies.
Final closing will be before end of October 2016, once the usual warranties and requirements for this kind of transactions would be fulfilled. Viscofan has been advised by Rabobank and by Baker&McKenzie to carry out this transaction.
According to José Domingo de Ampuero, chairman of Viscofan 'Vector acquisition means a push in our strategy to be a unique reference in the casing market to offer the most comprehensive portfolio to all our customers worldwide. I'm sure that the new portfolio, the quality of Vector' products, and the join forces of Vector team and Viscofan team will contribute very positively to the development of our plastic technology creating value to our customers and shareholders.'
Please, find attached the press release. Link
Viscofan SA published this content on 21 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 October 2016 06:38:13 UTC.
Original documenthttp://www.viscofan.com/EN/noticias/Pages/Viscofan-acquires-Vector’s-companies-in-Europe-and-United-States-.aspx
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Viscofan SA is a Spain-based company engaged in the packaging industry, mainly for meat products. The Company focuses on the manufacture and distribution of artificial castings, as well as plastic films that are used for separation of sliced food. Its products range includes cellulose, collagen, fibrous and plastic castings. In addition, it designs and produces packing machinery, as well as provides related spare parts. The Company also sells electric power, which is produced by cogeneration systems. The Company operates manufacturing plants and sales offices in Spain, Serbia, Czech Republic, Germany, Brazil, Mexico, Uruguay, China and the United States, among others. It controls a number of subsidiaries, such as Nanopack, Technology and Packaging SL, Naturin Viscofan GmbH and Viscofan Centroamerica Comercial SA.
VISCOFAN, S.A. 
