Plastic Omnium’s Sale of SULO Emballagen GmbH
FIELDS Group is pleased to announce that it has reached an agreement to acquire SULO Emballagen GmbH.
SULO Emballagen develops and produces steel drums for the chemicals and food industry and is based in Herford, North-Rhine-Westfalia, Germany. The company is one of the leading suppliers of steel drums in Germany and has been on the market for over 90 years. The annual turnover amounts around € 40 million.
The vendor is Plastic Omnium Environment, the Environment Division of Compagnie Plastic Omnium from France. The acquisition will be completed within the coming months.
Anne Willem de Vries of FIELDS Group explains: “As a high quality, high volume producer of steel drums, SULO Emballagen fits right in the profile of FIELDS Group. The acquisition will enable SULO Emballagen to further build on its high quality and its well preserved relations with customers to further develop and grow the business the coming years.”
Henry Freudenreich, CEO of SULO Emballagen adds: “With FIELDS Group we are partnering with a company with extensive experience in high quality, high volume, and manufacturing. Together with FIELDS Group we will further grow the business in our current and adjacent markets and continue to support our customer’s steel packaging needs.”
Jones Day Acted as Legal Adviser to Plastic Omnium, with a team led by Ansgar Rempp (M & A, Dusseldorf), and Dr. Markus Weber (M & A, Dusseldorf). The Jones Day team also comprised Adriane Sturm (M & A, Munich), Dr. Nicole Kadel (Real Estate, Frankfurt), Dr. Holger Neumann (environmental law, Frankfurt), Dr. Markus Kappenhagen (Labour, Frankfurt), Dr. Klaus Herkenroth (Tax, Frankfurt) Dr. Olaf Hohlefelder (M & A, Munich), Dr. Stella Greisbach (M & A, Dusseldorf), and Dr. Verena Alof (Real Estate, Frankfurt).
Lincoln International acted as financial adviser to Plastic Omnium and Core Legal served as advisers to FIELDS Group, with a team led by Lars Barth and Michael Järkel.