Thornico Food & Food Technology, which is controlled by Thornico Holding, has offered to purchase all shares in moulded-fibre packaging manufacturer Brødrene Hartmann.
The company is offering to acquire Brødrene Hartmann’s shares at a price of DKr360 a share.
Headquartered in Gentofte, Denmark, Hartmann is a manufacturer of moulded-fibre egg and fruit packaging to manufacturers, distributors, and retail chains in South America and India.
The company also sells machinery and technology to manufacturers of moulded-fibre packaging in selected markets.
Hartmann operates a network of 15 factories in Europe and Israel, North and South America, and India.
The voluntary public offer comes shortly after Nasdaq Copenhagen approved the request for the delisting of Hartmann shares from trading and official listing.
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In a statement, Hartmann said: “Shareholders who wish to accept the offer must communicate their acceptance of the offer to their own account holding institution in accordance with the procedure described in the offer document and in due time to allow this institution to process and communicate such acceptance to Danske Bank prior to the expiry of the offer period on 20 December 2023.”
Thornico expects to settle the offer on 28 December 2023 at the latest.
Following the acquisition, the company plans to continue with its existing strategy and activities that were already set by Hartmann’s board of directors.