Pamica acquires the majority of VEFI
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Pamica 2 AB has, together with a company controlled by the management of VEFI A/S, signed an agreement to acquire 100% of the Norwegian company VEFI A/S and 100% of the Polish company VEFI Europa Sp. Z.o.o (together ”VEFI”). Seller of the companies is Oboya Horticulture Industries AB (publ). The transaction is scheduled to be completed on December 29, 2020.
VEFI is an innovative and market leading producer of packaging solutions to plant growers, primarily professional producers using the hydroponic method. VEFI has a leading position in the Nordics based on strong customer relations, a high service level as well as a deep knowledge of its customers’ needs. The VEFI companies have about 60 employees and an estimated turnover of about SEK 100m in 2020.
The transaction ensures the VEFI companies a financially strong and engaged owner that will provide the companies with expansion capital as well as competence in the form of an active board of directors.
”The acquisition of the VEFI companies is the fifth platform investment made by Pamica’s second fund, Pamica 2 AB. VEFI’s operations and products matches well with the type of company Pamica aims to acquire. A historically sound financial development, a stable market, growth opportunities by continued business development as well as the knowledge our network of investors can provide lay the foundation for an exciting future. Together with the existing management of VEFI we have a great opportunity to create good value development for our investors, says Jan Klippvik Chairman of the Board of Pamica 2 AB.”
“I would like to thank Oboya Horticulture Industrier AB (publ) for the last years’ cooperation. Now we look forward to initiate a new cooperation with new strong owners and we believe our future looks very bright, comments Jan Fuglerud CEO of VEFI A/S and Chairman of the Board of VEFI Europa Sp.Z o.o who will continue to lead the businesses.”
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