Cerea Dette II invests in Omni-Pac Group senior acquisition financing, the first « Green LBO » on the French marketFounded in 1977 in Brittany, France, Omni-Pac Group (previously Cellulose de la Loire « CDL »), is a leading European producer of moulded fibre packaging and responsible solutions, targeting mainly the poultry (the Group’s historical activity), fruits and vegetables and medical markets, as well as new applications.
CDL achieved strong growth in the past few years, completing in the process two major build-ups bearing attractive commercial and industrial synergy potential: Germany-based Omni-Pac, acquired in 2016, and UK-based Moulded Fibre Products, acquired in 2020. These two acquisitions have made CDL a pan-European player, which has since been rebranded as Omni-Pac Group.
Omni-Pac Group is one of the three market leaders in Europe, featuring a broad range of products (poultry, fruits and vegetables, medical and other applications) and three highly complementary production sites each located in the group’s key geographies. This strong market position, as well as the group’s potential for further development, its attractive market dynamics (driven notably by the acceleration of plastic substitution) and its highly experienced management team, have all contributed to making Omni-Pac Group a highy valuable asset, attracting strong interest from sponsors and lenders.
Benefiting from a very good understanding of the group and a longstanding relationship with its management, having supported it since 2007 as mezzanine lender (1) , Cerea Partners secured a favourable position in the transaction with Cerea Dette II acting as the main debt fund in the senior financing structure.
This senior financing, set up as part of the group’s acquisition by Latour Capital and the management team, is the first "green LBO" on the French market. With products made from recycled waste (paper and cardboard), Omni-Pac Group operates on a circular economic model, thereby contributing directly to environmental preservation, in line with the definition of European Union's Sustainable Taxonomy.
(1) Cerea Mezzanine I and II arranged the mezzanine financings for both previous LBO transactions (2007 and 2014)