Ratos, IK Investment Partners Exit Superfos

British plastic-packaging supplier RPC Group will pay 204.7 million pounds ($318.3 million) to buy Superfos Industries from Nordic private equity firms Ratos and IK Investment Partners, Reuters reported. RPC Group said it planned to fund the acquisition through an 88.8 million pounds rights issue and a 130 million euros ($171.9 million) term loan facility. The deal is expected to close in early 2011.

(Reuters) – British plastic-packaging supplier RPC Group said it proposed to buy European peer Superfos Industries for about 204.7 million pounds ($318.3 million) to expand its business in new markets.

The company said it planned to fund the acquisition through a 88.8 million pounds rights issue and a new 130 million euros ($171.9 million) term loan facility.

Superfos, which is owned by Nordic private equity firms IK Investment Partners and Ratos AB , posted 2009 adjusted pretax profit of 22.9 million euros on sales of 294.5 million euros.

RPC said it would issue five new shares for every eight existing shares at 143 pence a share, a 48 percent discount to its Wednesday closing price.

The company expects the acquisition to “materially enhance” its earnings per share in the first full financial year post buyout.

The deal is expected to close in early February.

Shares in RPC, which have risen 14.4 percent in the year-to-date, closed at 274 pence on Wednesday on the London Stock Exchange. ($1=.6431 POUND) ($1=.7562 EURO) (Reporting by Shivani Singh in Bangalore; Editing by Roshni Menon)