Mutares acquires La Rochette

The deal is expected to close in Q2 2021.

La Rochette (then known as Cascades La Rochette) was acquired by RDM in March 2016 from its Canadian parent company, Cascades, which had acquired the business in 1985. RDM's acquisition of La Rochette valued the company at around €16-20m and the company reported EBITDA of €4m at the time, according to a contemporary report from Unquote sister publication Mergermarket.

Mutares said in a statement that it has been able to cover its equity contribution to the deal following the increase of an outstanding bond.

Listed investment holding Mutares generally acquires non-core businesses from corporates, focusing on targets with revenues of €50-500m in three sectors: automotive and mobility; engineering and technology; and goods and services.

Company
La Rochette was formerly part of Cascades, which was founded in 1964. La Rochette manufactures folding box boards for use in sectors including the pharmaceuticals and food industries. It uses virgin fibres and aims to make more sustainable and eco-friendly packaging. The company is based in Valgelon-La Rochette. It generated revenues of €120m in 2020 and employs 300 staff.

People
Mutares – Johannes Laumann (CIO).
Reno de Medici – Michele Bianchi (CEO).

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