29 May 2020
NAMPAK’S INTERIM FINANCIAL RESULTS FOR THE 6 MONTHS ENDED 31 MARCH 2020
Article by Nampak 13 December 2019
NAMPAK SELLS NAMPAK PLASTICS EUROPE BUSINESS TO BELLCAVE
Johannesburg, 13 December 2019 – Nampak Limited today announced that it entered into an agreement for the sale of Nampak Plastics Europe Limited (“NPE”) for an undisclosed amount to Bellcave Limited (“Bellcave”).
Nampak CEO, André de Ruyter commented: “The sale of NPE is in line with Nampak’s ongoing strategy to sharpen our focus on strategic substrates. We continue to rationalise the portfolio to optimise and improve returns on capital and reinforce our strategic intent.”
Nampak Plastics Europe was designated as an asset held for sale on 28 August 2019 and an accelerated disposal process was initiated. Indicative offers were received in September 2019 and a final agreement was signed on 12 December 2019 with Bellcave.
The sale is effective immediately and includes the pension fund liability. Ownership of NPE transfers to Bellcave on the date of signature of the sale and purchase agreement. There are no conditions precedent and no regulatory approvals are required.
About Nampak Plastics Europe
Nampak Plastics Europe is a market leading manufacturer and packaging supplier to the UK dairy sector of high density polyethylene (HDPE) bottles. With 34% share of the available UK milk bottle market it supplies many of the key players in the United Kingdom and Ireland dairy industries. NPE is a wholly-owned subsidiary of Nampak Holdings UK Limited which is ultimately held by Nampak Limited, the Johannesburg Stock Exchange listed African packaging leader that operates in 11 African countries with 39 facilities.
Bellcave Limited is owned and backed by Greybull Capital, an entrepreneurial investment group that specialises in medium to long-term investments and whose purpose is to improve businesses for all stakeholders.
Tel: 082 448 2684
Tel: 011 719 6326
Nampak is Africa’s largest diversified packaging manufacturer by volume and revenue. We leverage the skills of our 5 061 people and capitalise on our substantial investment in state-of-the-art facilities to produce world-class metal, glass and rigid packaging from facilities in 11 countries across Africa. Our customers – many of them large fast-moving consumer goods companies – benefit from our extensive research and development services, which provide them with innovative solutions that promote their own products while keeping their impact on the environment in check. www.nampak.com
Back to top ^