BDA Partners is pleased to announce that its client, CITIC Capital Partners Limited (“CITIC Capital”), has agreed to sell its 67.1% stake in Tri-Wall Holdings Limited (“Tri-Wall”) to Rengo Co Ltd (“Rengo”). BDA acted as the financial advisor, alongside SMBC Nikko Securities Inc, to CITIC Capital. The transaction is subject to approval by regulators.
Founded in 1974 and headquartered in Hong Kong, Tri-Wall is a leading provider of heavy-duty corrugated package solutions in China, Japan, SE Asia and Europe. It manufactures and markets proprietary triple-wall and double-wall corrugated packaging solutions to leading international blue-chip companies. Tri-Wall owns the globally recognized Tri-Wall brand and extensive fabricator networks in Asia and Europe. The acquisition of Tri-Wall will expand Rengo’s presence in Asian and European markets and enhance its capability to deliver intelligent packaging solutions to global blue chip companies.
Jeff Acton, Managing Director of BDA in Tokyo, said “We’re delighted to have helped CITIC Capital execute this landmark transaction. This transaction leveraged BDA’s strong presence across Asia and our experience in managing global M&A processes, and builds further on our strong packaging practice.”
Takeshi Inoue, Managing Director of BDA in Tokyo, said “We’re proud to have worked with CITIC Capital to execute this transaction successfully. This transaction demonstrates BDA’s expertise in executing cross-border transactions between Japan and the rest of Asia.”
BDA Deal Team
Charles Maynard, Senior Managing Director, London
Jeff Acton, Managing Director, Tokyo
Takeshi Inoue, Managing Director, Tokyo
Karen Cheung, Director, Hong Kong
Muli Tang, Associate, Tokyo
Jonathan Fein, Associate, Hong Kong
Patrick Chin, Analyst, Hong Kong
Tri-Wall is a leading provider of heavy-duty corrugated packaging solutions in China, Japan, SE Asia, and Europe. It manufactures and markets proprietary triple-wall and double-wall corrugated packaging solutions which offer superior cost performance and sustainability. Headquartered in Hong Kong, Tri-Wall owns a globally recognized Tri-Wall brand and extensive fabricator networks in Asia and Europe. Tri-Wall has longstanding relationships with leading international blue-chip companies. www.tri-wall.com
Founded in 1909, Rengo is a one of the leading packaging manufacturers in Japan. Rengo manufactures and markets paper board, corrugated board, corrugated boxes, and heavy duty package products. Its shares are listed on the first section of Tokyo Stock Exchange. www.rengo.co.jp