Billerud has agreed to divest its Managed Packaging business unit with investment company Mimir Group.
Managed Packaging offers customised packaging options to global brands and retail chains with manufacturing in Asia and has a large network of production partners. Managed Packaging has 143 employees in Asia, Europe and USA.
The intention to divest the business unit is a consequence of Billerud’s focus on packaging materials, which means a reduced strategic importance of service offerings. The sale will reduce complexity and positively impact Billerud’s EBITDA margin.
Billerud president and CEO Christoph Michalski explained, ‘Managed Packaging has contributed to Billerud with expertise in optimisation of fibre-based packaging solutions for global brand owners, but there are no synergies with our core business, which is our focus in the years to come.
‘Managed Packaging will now get an owner who wants to develop the business, to the benefit of employees and customers.’
