Oaktree agrees to sell NORDENIA

On 10 July 2012 the funds managed by Oaktree Capital Management LLC – the majority shareholder of NORDENIA INTERNATIONAL AG (NORDENIA) since 2006, a multi-national manufacturer of consumer packaging solutions and hygiene components – agreed to sell NORDENIA to Mondi Group subject to the approval of competition authorities and customary closing conditions. The completion of the acquisition is expected in the fourth quarter of 2012.

After completion of the transaction it is planned that the existing management team of NORDENIA will lead the combined consumer packaging business unit from its current headquarter in Greven, Germany. NORDENIA’s companies will then also belong to the holding of the Mondi Group.

“Our customers are a key focus,” comment Peter Oswald, CEO Mondi Europe & International Division and Ralph Landwehr, CEO NORDENIA. “We consider the possible merger a very good opportunity to create a leading consumer packaging business and to offer our customers a wider product range and continued excellent service.”

The multi-national consumer packaging solutions and hygiene components supplier NORDENIA has grown in fiscal year 2011. The Group sales increased by 9.9% to € 881.0 million, the sales volumes increased year on year by 1.4% to 244,670 tons. The earnings position of the NORDENIA group has held its level in 2011: The adjusted EBITDA (adjusted earnings before interest, taxes, depreciation, amortisation and other extraordinary expenses and income) amounted to € 101.1 million.