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Packaging And Design

Croatian Packager Aluflexpack Aims For Q1 Frankfurt IPO: Sources

Croatian packaging maker Aluflexpack is preparing a stock market flotation in Frankfurt in the first quarter of 2019, as its private equity owner is seeking to cash in on its investment, people close to the matter said.

Austrian investor Michael Tojner's Montana Tech Components is planning to sell shares worth more than €100 million ($113.67 million) in the company, which could give it a market capitalisation of roughly 300 million euros, one of the people said.

Montana Tech Components, which bought Aluflexpack together with co-investors in 2012, declined to comment.

Aluflexpack - originally known as Foljaplast - makes food, pharma and cigarette packaging from aluminium foil, paper and flexible films for companies including Nestle, Ferrero Rocher, Coca Cola, Sanofi, Lactalis and Dr. Oetker.

Since Montana Tech's buyout, Aluflexpack has acquired several rivals such as France-based Eliopack.

Montana Tech successfully listed battery maker Varta on the Frankfurt stock exchange last year and since then the company's stock has risen by 50%.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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