Mayr-Melnhof – The purchase of Tann to boost the expansion of Asia (Christine Petzwinkler)

Mayr-Melnhof Yesterday, after the closure of the market, announced the acquisition of Tann Group based in Upper Austria, which has perfected and printed thin paper on cigarette paper and is the world market leader. The profitable company generates a turnover of 230 million euros and is represented in seven countries with eight production sites. For Wilhelm Hörmanseder, CEO of Mayr Melnhof, the newly acquired company, which has a global market share of around 20%, is a "perfect fit," as he explained in a conference call. According to the CEO, Mayr-Melnhof is expanding its value chain and strengthening its profitability with this high-margin business unit. The enterprise value of Tann stands at 350 million euros. Share purchase price of 275 million euros, " The The purchase price corresponds to a multiple of 6.5 EBITDA"The transaction, which still has to be approved by the authorities of several countries, is financed by cash and credit lines." However, the firepower required for new acquisitions is not limited, "says Hörmanseder. says Hörmanseder. constantly in touch with targets stands. The Tann Group makes about 40% of its sales in Asia. While the global cigarette market is down slightly, some countries have seen growth. Hörmanseder therefore plans to develop its activities in this region, including the main activities of his company. "The acquisition provides a platform for further expansion," said the CEO, recently appointed by the board of directors.

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