Faerch Holding completes process of finding new owner, enters into agreement with private equity firm that will purchase Faerch Plast
February 14, 2014
– The board of directors of Faerch Holding has completed the process of finding a new attractive owner for the international packaging enterprise with head offices in Holstebro. Assisted by Danske Bank Corporate Finance and Bech-Bruun, Faerch Holding has reviewed offers from both domestic and international potential buyers. The process ended today when the private equity fund EQT entered an agreement to buy Færch Plast A/S.
"We have come to the close of an era in Faerch Plast’s history and now launch a new beginning with a wide range of opportunities for developing Faerch Plast on the international market backed by EQT as a strong strategic and financial owner," says chairman of Faerch Holding's board of directors Niels Kornerup, who also emphasises that Faerch Plast holds the potential of further strengthening its status as a prominent supplier to the globally expanding food industry.
Morten Hummelmose, partner in EQT, has the following comment on the acquisition:
"EQT has followed Faerch Plast through a number of years and we are deeply impressed by the quality and the commitment of the employees we have met during the process. Faerch Plast has very significant market positions with longstanding, strong customer relationships. These factors all constitute a sound basis for continuing the company's outstanding development.