On 13 October 2017, Elanders Group completed the acquisition of an 80% stake in Asiapack Limited, a Hong Kong-based provider of value-added contract packaging services.
Pickering Pacific advised the shareholder of Asiapack Limited on this transaction.
With its main operation in Shenzhen, China, Asiapack Limited provides packaging and co-packing services to various international manufacturers of consumer goods. The company currently has 220 employees.
Elanders Group is a listed Swedish company specialized in supply chain management, printing and packaging. The group operates in 20 countries worldwide and generated over USD 750m of revenue in 2016.
According to Elanders Group, “The acquisition is a complement to Elanders’ existing operations in Asia, Mentor Media, and will provide new customer segments as well as broaden the product and service portfolio (…) Asiapack will become part of the business area Supply Chain Solutions and is expected to contribute positively to earnings per share starting from 1 January 2018, as well as improve the business area’s operating margin (…)”.