Ashurst advises Tri-Wall Ltd. on the acquisition of TRICOR Packaging and Logistics AG

Ashurst advised Tri-Wall Ltd., a subsidiary of the Japanese company Rengo Co., Ltd., one of the largest packaging manufacturers in Japan, on all legal aspects of the acquisition of all shares in TRICOR Packaging and Logistics AG. With this transaction, Tri-Wall aims to become one of the leading providers of heavy-duty corrugated packaging solutions in Europe. The transaction will be finalised by end of August. The Japanese group of Rengo's and Tri-Wall realised a cumulated turnover of 653.1 billion Yen (approximately 5.5 billion Euros) in 2018/2019 and it employs c. 17,000 people.

TRICOR Packaging & Logistics AG, the holding company of TRICOR Group currently operates five production sites, one logistics facility and four service centers in Germany, Czech Republic and Slovenia. TRICOR focuses on the development and production of standard and customer-specific industrial packaging solutions made of heavy-duty corrugated board. Through its subsidiary Gutmann Anlagentechnik GmbH, the Group offers mechanical engineering and process automation services for a variety of industrial applications including assembly equipment for heavy-duty packaging solutions. TRICOR primarily supplies industrial customers in the automotive, chemical, mechanical and electronics sectors throughout Central Europe. TRICOR Group has achieved a consolidated total output of c. € 187m in fiscal year 2018/19 and currently has c. 900 employees.

The Ashurst team was led by corporate partner Dr Benedikt von Schorlemer, who was supported by a transaction team comprising counsel Holger Mlynek and associate Jan Ischreyt. Holger Mlynek also advised on commercial contracts. Associates Jan Ischreyt and Quynh Anh Le further advised on corporate matters. Partner Dr Maximilian Uibeleisen advised on public/environmental law, counsel Bernd Bäumer provided real estate advice, senior associate Lukas Müller and associate Patricia Gola were advising on employment matters. Regarding financing aspects, associates Philipp Hogrefe and Ralf Stenger (both Munich) were involved, and counsel François Maartens Heynike advised on IP/IT aspects (all Frankfurt).