SPAIN – CVC-backed paper producer acquires French distributor

Secmar controls 100% of Malmenayde, which registered a turnover of EUR 127m last year and has a portfolio of more than 4,000 clients in Europe, and 66% of Norpapier. Barcelona-based Torraspapel has previously established a presence in France through its own paper distribution business and also has distributors in Spain, Portugal and Argentina. It reported a turnover of EUR 890m in 2007.

CVC acquired the company in 1999 in a deal valued at EUR 577m - EUR 312.53m in cash for a 95% stake and a further EUR 264m in existing debt. The deal was structured as a buy-and-build acquisition made via Lecta Group, the holding company for CVC’s fine paper interests.

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• Topics
• Portfolio management
• Southern Europe