Ferd and the Andresen family have been active and dedicated owners of Elopak since its foundation in 1957.
«Over the years Elopak has grown from a local hero to a global industry leader. As long term owners and supporters we are impressed with Elopak’s achievements in driving sustainable and carbon neutral packaging, with a long track record of innovation, technological differentiation and R&D efforts both in Norway and internationally», says Morten Borge, CEO of Ferd.
Elopak became carbon neutral in 2016 and reduced greenhouse gas emissions by 70 per cent between 2008 and 2018. Today, Elopak offers customers 100 per cent renewable, recyclable and carbon neutral cartons.
Despite the global pandemic, 2020 proved to be yet another solid year for Elopak, with expected revenues for the group in excess of 930 million euro and EBITDA in excess of 125 million euro (all figures including share of joint ventures). Over the last two years the group’s EBITDA has increased more than 25 percent, in line with the company’s commitment to profitable growth.
«Thanks to the great efforts of our 2,600 employees worldwide, we have succeeded in improving our topline and operational efficiency. As companies and consumers alike increasingly demand more sustainable, carbon neutral products and services, we believe our strong sustainability credentials will help us win more customers in both existing and new markets and market segments», says Thomas Körmendi, CEO of Elopak.
Ferd has now started to explore the opportunity of a potential public listing for Elopak, with Ferd remaining an active and committed shareholder. Goldman Sachs and SEB have been engaged as joint global coordinators in this endeavour.
«This process has only just started, and we will be sure to take the necessary time to consider the best possible ownership structure for Elopak’s future. By inviting more shareholders into Elopak to complement Ferd, we may enable Elopak to grow and use the strong momentum created by the management and employees to play an even bigger part in the global shift towards a low-carbon circular economy», Borge says.
Ferd owner and chairman Johan H. Andresen fully supports the initiative.
«Ferd and Elopak have a long and common history, with my father being instrumental to the foundation of Elopak. We have in other companies shown that together with other shareholders we can create significant value. This active ownership will also be key to creating and releasing further potential in Elopak. »
About Elopak
- Elopak is a leading global supplier of carton packaging and filling equipment for liquid food, catering to both the fresh and ambient markets.
- The company’s iconic Pure-Pak® cartons are designed with the environment, food safety and convenience front of mind.
- Elopak was founded in Norway in 1957 by investor Johan H. Andresen Sr. and engineer Christian August Johansen and is now wholly owned by Andresen’s son and granddaughters via their investment company Ferd.
- Today Elopak employs 2,600 people and sells in excess of 14 billion cartons every year across more than 80 countries.
This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements.
Link to press release in norwegian.