Mint Capital Buys A-Dept Shares
The Scandinavian Mint Capital equity fund has bought a sizable stake in the Russian A-DEPT company. The deal is estimated at some $5.0 million.
Mint Capital sees the possibility of selling its stake to a Western strategic investor in the long term. A-Dept is one of the leading Russian producers of laminated tubes for packaging detergents, tooth paste, cosmetics, foodstuffs and pharmaceutical products. It produces packaging for Kalina, Nevskaya Kosmetika and Faberlic. The output is nine million tubes monthly, or $10m annually. The proceeds will be used to build a new factory in Solnechnogorsk district, Moscow Region, to double its production volume in the long run.