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EQT to buy plastic food packaging business Færch Plast

3 Feb 2014

Faerch packagingNordic-focused private equity firm EQT has agreed to buy plastic food packaging business Færch Plast.

The company is a market leader for rigid plastic ready meal and protein food trays in the UK, Scandinavia and Benelux, EQT said.

EQT partner Morten Hummelmose said, “EQT has followed Færch Plast for several years and we are deeply impressed by the quality and dedication of the employees we have met.

“We are also impressed by the strong market positions of Færch Plast and the strength of the relationships to its key customers.

“We believe this is a very strong platform from which to pursue further growth.”

Færch Plast expects revenues of approximately DKK 1.1bn from its 2013 sales, and an EBITDA of DKK236m.

The company has about 500 employees primarily based in Denmark, the UK and Czech Republic..

Last month Nordic buyout house EQT beat its target for a new mid-market private equity fund by holding a €1.1bn final close.

EQT Mid-Market received almost all of the capital from existing investors in the firm’s other vehicles, with just five per cent coming from new LPs.

About half of the capital was raised from Nordic LPs, 22 per cent from the rest of Europe, 16 per cent from North America and 11 per cent from Asia.

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