DORDA Advises Greiner on the Takeover of Foam Specialist Eurofoam
April, 2020 - Vienna, Austria
DORDA's M&A experts support Austrian Greiner AG on the acquisition of all remaining shares in Eurofoam GmbH, making the Upper Austrian-based company the sole shareholder of the foam specialist.
Vienna, 7 April 2020 – Last week Greiner AG signed a contract for the complete takeover of Eurofoam GmbH. DORDA advised Greiner on this transaction under the leadership of Corporate/M&A partners Martin Brodey and Christian Ritschka as well as antitrust experts Heinrich Kühnert (Partner) and Elisabeth König (Of Counsel). The team further included Gunnar Pickl (Counsel) and associates Patricia Backhausen and Clemens Semelmayer.
Eurofoam GmbH is the leading manufacturer of flexible polyurethane foam in CEE with annual sales of more than EUR 400 million and more than 2,400 employees at 36 locations in 12 countries throughout Europe. So far, Greiner has already held a 50% share in this joint venture with the Dutch company Recticel holding the remaining share. Now Recticel has sold its share in the joint venture, which was founded in 1992, making Greiner the sole shareholder of Eurofoam GmbH. Closing of the transaction is subject to regulatory approvals. The parties have agreed not to disclose the purchase price.
"With the purchase of the remaining shares in Eurofoam, Greiner further expands its portfolio and thus strengthens its international competence in the foam sector", explains Martin Brodey. "We are pleased that we were able to successfully support Greiner in this important strategic step," adds Christian Ritschka.
Greiner AG is a family-owned company founded in 1868 and based in Kremsmünster, Austria. As a leading supplier of plastic and foam solutions, the company is now active in 33 countries worldwide. Greiner manages four different operating divisions in various industries around the world.
