Houlihan Lokey Advises M&C

Houlihan Lokey is pleased to announce that M&C SpA (M&C) has completed the sale of Treofan Holdings GmbH (Treofan Holdings or Treofan Europe) to a company that is part of the B.C. Jindal Group. The transaction closed on October 24, 2018.

Following the completion of the divestment of its wholly-owned North American activities to CCL Industries Inc. in July 2018, Treofan Holdings now controls the remaining European activities of Treofan. Headquartered in Raunheim, Germany, Treofan Europe develops, manufactures, and markets biaxially oriented polypropylene (BOPP or OPP) films and offers a complete portfolio of specialized film products for four market segments: flexible packaging, labels, tobacco packaging, and technical films (capacitors and a separator technology used in lithium-ion batteries). These film products are supplied to a strong and loyal customer base of brand owners and packaging converters, including some of the most recognizable names in the market. Treofan Europe has a well-invested asset base and operates 11 production lines with 100,000 tons of nameplate capacity across three manufacturing sites in Germany and Italy. In 2017, Treofan Europe reported sales of €271.8 million and negative EBITDA of €3.6 million.

M&C is an Italy-based holding company investing across a broad range of sectors. M&C is listed on the Milan stock exchange and controlled by financier Carlo De Benedetti.

This transaction highlights how our packaging industry expertise combines with our regional and international M&A presence. With this transaction, Houlihan Lokey further strengthens its credentials as a premier advisor to Plastics & Packaging companies.

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