Advent sells Faerch to trade

The exit comes three years after the GP acquired the company from EQT, reportedly paying around €1bn for it.

During its three-year ownership, the GP grew the company through product innovation and expansion of its European footprint by carrying out strategic add-on acquisitions. The company has also transitioned towards circularity and started tray-to-tray recycling.

Faerch is expected to generate revenues of more than €500m in 2020, up 60% from 2017.

AP Møller will support the company's next growth phase by scaling its tray recycling facilities across Europe, accelerating the transition towards mono-PET in Faerch's core market segments, and pursuing further consolidation through M&A. 

The deal is subject to regulatory approval and is due to close in Q1 next year.  

Company
Founded in 1969 and headquartered in Holstebro, Faerch is a manufacturer of sustainable food packaging within the ready meals, protein, food-to-go and dairy segments.

It employs 1,400 people across 12 production sites in Denmark, the UK, France, Spain, the Czech Republic and the Netherlands. With the recently announced acquisition of Sirap's food packaging business in Italy, Poland and Spain, close to 1,000 additional employees in five production sites will join the group. 

People
Advent International – Ranjan Sen (managing partner).
AP Møller Holding – Jan Nielsen (chief investment officer). 
Faerch – Lars Gade Hansen (CEO).

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