Viscofan acquires Globus Group in Australia and New Zealand for 13.3 million AUD.
Viscofan Group has acquired for cash 100% of the issued shares of Globus Group Pty Ltd., Jupiter Pty Ltd., and Globus Group New Zealand Ltd., Viscofan’s distributor in Australia and New Zealand for an enterprise value of 13.32 million AUD.
Globus was established in Australia in 1949. The company has a long track record as distributors of casings, films and bags, among other flexible packaging products, and of packaging equipment for the food industry. In the current fiscal year (Jul’18-Jun-19) Globus expects to achieve revenue of 55 million AUD and EBITDA of 1.4 million AUD.
José Domingo de Ampuero, Viscofan chairman stated “The Globus acquisition means a new growth opportunity for Viscofan, not only due to the complementary geographic footprint afforded by Globus’ presence in a new Continent for Viscofan, but also because Globus’ excellent personnel and their market knowledge, combined with the strong commercial portfolio of Viscofan, will enable us to provide our customers with better service and new solutions in those markets”.
More information about Globus: http://www.globusgroup.com.au