Impack Pratama Industri Acquires Mulford Holdings

Posted by on June 26, 2024 in News & Events

Jakarta, June 25, 2024 – On June 24, 2024, PT Impack Pratama Industri Tbk. (“the Company” or “IMPC”) has signed the Sales and Purchase Agreement to acquire 100% shares ownership of Mulford Holdings Pty Ltd (“ Mulford Holdings”) with a transaction completion date on June 28, 2024. Founded in 1946, Mulford Holdings is the leading distributor of plastic sheets for signage and other building material products in Australia and New Zealand.

Mulford Holdings has 14 distribution centers across Australia and New Zealand, serving more than 8,300 customers annually. Mulford Holdings also provides services in fabrication and display design. “We expect this acquisition can add around IDR400 billion to IMPC’s top line for fiscal year 2024.”

The Company’s President Director, Haryanto Tjiptodihardjoremarked. “Two underlying importance of any acquisition deals that we believe can build synergies are distribution networks aligned with what we have built and having strong brand power,” Haryanto explained. The Company’s Management is confident that the vertically integrated supply chain from this synergy will strengthen the Company’s EBITDA within the next five years.

IMPC utilized a combination of equity and debt to finance this acquisition. The Company has also signed a Loan Agreement with BCA Bank for acquisitions support in the future as well as existing deal. IMPC is continuously committed to growing its business through acquisition, improving margins, and maximizing synergies within the group.

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