Evergreen Hill Enterprise Acquires TANN Group for EUR 360 Million
Deal News | Jan 15, 2025 | CEE Legal Matters
Evergreen Hill Enterprise, a conglomerate based in Singapore, has secured the acquisition of the TANN Group from Mayr-Melnhof Karton with an enterprise value set at EUR 360 million. Specializing in fine paper printing and finishing, the TANN Group operates multiple production sites globally including in Austria, China, and Germany, and employs roughly 730 staff. The acquisition was facilitated with legal assistance from Dorda and Norton Rose Fulbright working for the buyer, while Binder Groesswang advised the seller. Evergreen Hill is part of an Indonesian conglomerate with diverse interests spanning banking, tobacco, and consumer electronics.
Sectors
- Paper and Printing
- Private Equity & Investment
- Legal Services
Geography
- Austria – The TANN Group, the target company, operates a production site in Austria and was sold by Austrian entity Mayr-Melnhof Karton.
- Singapore – Evergreen Hill Enterprise, the acquiring company, is based in Singapore.
- Indonesia – Evergreen Hill is part of a privately held Indonesian conglomerate.
Industry
- Paper and Printing – The TANN Group specializes in printing and finishing fine paper, specifically tipping paper, which is a significant part of the transaction.
- Private Equity & Investment – Evergreen Hill Enterprise is part of a privately held Indonesian conglomerate engaging in this acquisition, a typical activity within private equity and investment sectors.
- Legal Services – Legal advisory services played an essential role in this transaction with firms like Dorda and Norton Rose Fulbright involved.
Financials
- EUR 360 million – The agreed enterprise value for the acquisition of TANN Group by Evergreen Hill Enterprise.
- EUR 220 million – The annual sales revenue generated by TANN Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Evergreen Hill Enterprise | Acquirer | Company | A Singapore-based division of an Indonesian conglomerate acquiring TANN Group. |
| Mayr-Melnhof Karton | Vendor | Company | The Austrian company selling the TANN Group. |
| TANN Group | Target Company | Company | The company being acquired, specializing in fine paper production. |
| Dorda | Legal Advisor | Company | Provided legal advice to Evergreen Hill Enterprise for the acquisition. |
| Norton Rose Fulbright | Legal Advisor | Company | Worked alongside Dorda to advise Evergreen Hill on the acquisition. |
| Binder Grosswang | Legal Advisor | Company | Reportedly advised Mayr-Melnhof Karton in the sale of TANN Group. |