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BIC is advising to owners of Ukrainian packaging company in sale of business

LunaPack, a Ukrainian packaging company, is looking for a strategic investor, said a source close to the company. The company is located in Dnipropetrovsk and currently owned by the Alef Corporation, which views the packaging company as non-core to its future strategy.

The source said that the owners are looking for a trade player from Western Europe to acquire a controlling stake in the company. The source noted that the company is seen as a very attractive target for a packaging company that would like to enter the high growth markets of Ukraine, Russia and other CIS countries. The source said that parties have already expressed interest in the company, but that the mandate was still open for other prospective buyers.

Baltic Investment Company (BIC), a Latvian M&A boutique, has been mandated as financial advisor in the sale process.

The company is the second largest folding carton packaging producer in Ukraine with a market share of 23% and a turnover of USD 20.3m in 2005. The source noted that the company estimates that turnover will increase to USD 26.3m in 2006. The main consumer packing sectors in which LunaPack operates are: confectionery, household chemicals, food & beverages and cosmetics and hygiene.

(Source: mergermarket)

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