SCA has acquired the remaining 75% of Cool Logistics Ltd, a packaging company focused on protective packaging for transport of temperature-sensitive products, primarily for the pharmaceutical and biotech industries.
The acquisition is in line with SCA Packaging’s strategy to focus on segments with a high value content. The acquisition follows SCA’s purchase of a 25% shareholding in Cool Logistics last year with an option to acquire the remaining 75%. The total purchase price for the entire company is GBP 7.4m (approximately SEK 103m). This corresponds to an EBITDA price multiple of 3.9 for the full year 2006 based on the H1 2006 results and fulfils SCA’s requirement of a CVA index of at least 1.2.
Packaging solutions from Cool Logistics are specially adapted for certain new drugs. These may be produced from proteins that must be stored and transported within a specific temperature range in order not to lose their effectiveness. These packaging solutions are also suitable for other sensitive products such as medical samples and special chemicals. Food and fresh flowers also need to be packed so that the correct temperature is maintained in transit.
Cool Logistics’ 2005 sales totalled GBP 5.4m with a 22% EBITDA margin. The company has some 50 employees and is located in Leighton Buzzard, about 80 km north of London.
Stockholm, 5 October 2006
SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ)
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