SIG Group AG: SIG completes the acquisition of Evergreen Asia

MEDIA RELEASE

3 August 2022

SIG Group AG (SIG)

SIG completes the acquisition of Evergreen Asia

SIG today announces the completion of its acquisition of Pactiv Evergreen Inc.s Asia Pacific chilled carton operations (Evergreen Asia). The business will be fully consolidated from the beginning of August 2022.

On 5 January 2022, SIG announced that it had entered into an agreement to acquire Evergreen Asia, a leading system supplier of filling machines, cartons, closures and after-sales service in the chilled seg­ment, covering dairy and non-carbonated soft drinks, with production facilities in mainland China, Taiwan and South Korea.

For the twelve months ended 31 December 2021, Evergreen Asia generated revenue of approximately 135 million and adjusted EBITDA of approximately 24 million[1]. It was acquired for an enterprise value of $335 million and SIG expects to realise run-rate cost synergies of approximately 6 million.

Founded in 1853, SIG is headquartered in Neuhausen, Switzerland. The skills and experience of our approximately 8,400 employees worldwide enable us to respond quickly and effectively to the needs of our customers in over 100 countries. In 2021, SIG produced 48 billion packs and gener­ated 2.7 billion in revenue (incl. Scholle IPN unaudited revenue). SIG has an AA ESG rating by MSCI, a 13.4 (low risk) score by Sustainalytics and a Platinum CSR rating by EcoVadis. For more information, visit www.sig.biz

For insights into trends that drive the food and beverage industry, visit our SIGnals blog: https://www.sig.biz/signals/en
 

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In this media release, we utilise certain alternative performance measures, including but not limited to EBITDA, adjusted EBITDA, adjusted EBITDA margin, net capex, adjusted net income, free cash flow and net leverage ratio that in each case are not defined in International Financial Reporting Standards (IFRS). These measures are presented as we believe that they and similar measures are widely used in the markets in which we operate as a means of evaluating a companys operating performance and financing structure. Our definition of and method of calculating the alternative performance measures stated above may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles, are not measures of financial condition, liquidity or profitability and should not be considered as an alternative to profit from operations for the period or operating cash flows determined in accordance with IFRS, nor should they be considered as substitutes for the information contained in our consolidated financial statements. You are cautioned not to place undue reliance on any alternative performance measures and ratios not defined in IFRS included in this media release.

Alternative performance measures

For additional information about alternative performance measures used by management that are not defined in IFRS, including definitions and reconciliations to measures defined in IFRS, please refer to the link below:
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