ASIATODAY.ID, JAKARTA – Issuer manufacturer and distributor of building materials and plastic goods in Indonesia, PT Impack Pratama Industri Tbk (IMPC) officially acquired a company from New Zealand, Mulford Holdings Pty Ltd.
In this action, the company purchased 100% of the shares from Mulford Holdings with an estimated transaction completion date of June 28 2024. This acquisition step was taken by the company in line with the large potential of Mulford Holdings to increase IMPC’s revenue.
For your information, Mulford Holdings is a leading distributor of plastic sheets for signage and building material products in Australia and New Zealand which has been established since 1946.
Mulford Holdings has 14 distribution centers in both countries and serves more than 8,300 customers annually. Apart from operating in the distribution sector, Mulford Holdings also provides display fabrication and design services.
Impack Pratama Industry President Director Haryanto Tjiptodihardjo said that the corporate actions carried out by the company are believed to be able to build synergies, namely a distribution network that is aligned and has strong brand power. Through the synergies created, a vertically integrated supply chain can increase the company’s EBITDA for the next five years.
“Our expectation is that this acquisition can add around IDR 400 billion to IMPC’s net income which will be recorded in the 2024 fiscal year,” he explained in a written statement, quoted on Wednesday, June 26 2024.
In funding the acquisition of Mulford Holdings, the Company used a combination of equity and debt. The Company has also signed a Loan Agreement with Bank Central Asia (BCA) to finance other future acquisition plans, as well as ongoing agreements.
IMPC is always committed to developing its business through acquisitions, increasing margins, and maximizing synergies between company groups. (ATN)
Follow Us at Google News and WA Channel