Share Name Share Symbol Market Type Share ISIN Share Description
RPC Group LSE:RPC London Ordinary Share GB0007197378 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +14.00p +1.94% 734.50p 735.00p 735.50p 737.00p 719.50p 724.50p 1,601,140 16:35:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Industrials 2,747.2 154.7 37.1 19.8 3,047.69

RPC Group PLC Completion of the acquisition of Letica Group

13/03/2017 7:00am

UK Regulatory (RNS & others)


RPC Group (LSE:RPC)
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RNS Number : 2119Z

RPC Group PLC

13 March 2017

13 March 2017

RPC Group Plc

("RPC" or the "Company")

Completion of the acquisition of Letica Group

RPC, a leading international design and engineering company of plastic products for both packaging and selected non-packaging markets, is pleased to announce the completion of the acquisition of Letica Group ("Letica"), details of which were announced on 9 February 2017 (the "Acquisition"). Letica's financial performance continued to improve from the year ended June 2016, generating unaudited sales of $455m and adjusted EBITDA of $67m(1) for the twelve months ended 31 December 2016. The up-front consideration paid to Letica's shareholders represents a multiple of 7.3 times Letica's adjusted EBITDA for the year ended 31 December 2016.

Pim Vervaat, Chief Executive of RPC, commented:

"We are delighted to complete the acquisition of Letica and look forward to welcoming our new colleagues into RPC. This is another important step in the implementation of our Vision 2020 strategy allowing RPC to create a meaningful presence in North America through a well-invested platform with leading positions in growing end markets."

 
 For further information, please contact: 
 
 RPC Group Plc:                               +44 (0)1933 410064 
 Pim Vervaat, Chief Executive 
 Simon Kesterton, Group Finance Director 
 
 FTI Consulting:                             +44 (0)20 3727 1340 
 Richard Mountain 
 Nick Hasell 
 
 

(1) Adjusted EBITDA for the Letica Group is defined by RPC as reported EBITDA before capitalisation of certain expenses, stock valuation policy adjustments and non-recurring/other costs

The unaudited financial information of the Letica Group for the twelve months ended 31 December 2016 presented herein has been prepared for illustrative purposes only and may not necessarily be representative of the Letica Group's results for such period or any future period and should not be considered to provide an indication of any anticipated combined financial position or results of operations of RPC upon consolidation of the Letica Group

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQGGUAGWUPMGMP

(END) Dow Jones Newswires

March 13, 2017 03:00 ET (07:00 GMT)

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