Shamrock Holdings is investing in plastics. The fund, owned by the Disney group, has acquired 25% of Polymer Logistics Ltd. for $12 million. Polymer Logistics, a company registered in the Netherlands, has a development and manufacturing center in Israel.
Polymer Logistics has 40 employees, including twelve in Israel. The company develops and produces reusable plastic packaging for retail chains. Its products are used by the chains’ suppliers to transport merchandise, and by the chains themselves to store products and display them in stores. Polymer Logistics’s products are used for live produce, eggs, beverages, dehydrated food, and do-it-yourself products.
Polymer Logistics’s sales in 2004 have totaled €20 million. The company does not report its results, but management says its profit margins are high. Its customers include large retain chains, such as Tesco (LSE: TCSO), Sainsbury (LSE: SBRY), and Wal-Mart Stores (NYSE: WMT), as well as suppliers, such as Coca-Cola Company (NYSE: KO), the mineral water subsidiaries of Nestle (SWX: NESN) and Groupe Danone (NYSE: DA; XETRA, Paris: DANO), beer companies, etc.
The main shareholders in Polymer Logistics are chairman Zvi Yemini, CEO Gidon Feiner, Aharon Eden, all shareholders in ZAG Industries, and Moshe Mizrahi. Employees and foreign entities each hold a few shares. Shamrock will now own 25% of the company. The deal was at a $48 million dollar company value, after money.
Published by Globes [online], Israel business news - www.globes.co.il - on December 28, 2004