Accent and Ahlström merge portfolio companies

The merger sees Ahlström's portfolio company Å&R Carton and Accent Equity's Flextrus join forces. Under the new structure the companies will continue to operate as separate firms and brands. The merger is seen as a step towards an IPO.

The creation of Arch Packaging Group will provide customers a broader offering as well as greater resources for the companies to grow organically and through acquisitions. Arch Packaging will be based in Malmö and generates a turnover of €500m with 2,000 employees.

Prior to the announcement of the merger, CapMan declared that it had sold its 32% stake in Å&R Carton to existing shareholder Ahlström Capital. CapMan backed the buyout of Å&R in 2000 and in following years decreased its stake in the company through secondary purchases by Ahlström Capital. The sale of the remaining 32% stake is reported to have had a positive impact of €2.5m on CapMan Plc's 2011 results.

Accent Equity acquired Flextrus in 2008 with equity from the Accent Equity 2008 fund, which raised €380m at final close in June 2007.

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