DECA Investments AIFM, the exclusive investment manager of Diorama Investments SICAR (“Diorama” or the “Fund”), announced the completion of the Fund’s fourth investment: the acquisition of Adam Pack or the “Company”. Following the acquisition Diorama will also proceed to a capital increase in the Company.
Adam Pack, which was founded in 1997 as a specialized printer of art books, is engaged in the production of paper packaging for liquid food. Today it is the largest Greek producer of gable top cartons and plastic spouts for the packaging of fresh milk and juices. Based in Lavrio, Attica, the Company currently employs 71 people. In 2016 it generated EUR 13.4 million of sales of which 28% were exports
The investment in Adam Pack fits Diorama’s strategy: making equity investments in growing, extrovert Greek companies. Diorama’s objective is to help the investee companies become important players in the international arena.
Mrs. Efsevia Adam, Adam Pack co-founder and, until the sale, controlling shareholder of Adam Pack, stated: Ever since its founding Adam Pack has consistently had a growth strategy. It has secured a strong presence in its market and has employed innovative ways to improve its production process. The new investors will further enhance its growth prospects and will enable the company to strengthen its position in both the Greek and international markets.
Nicos J. Koulis, DECA Investments AIFM CEO stated: “Our investment in Adam Pack is the first full acquisition by Diorama. At first glance it appears as a departure from our common modus operandi which is the acquisition of significant minority positions. In reality, though, it is a similar strategy: we invest in an extrovert company with attractive growth prospects. In addition, we support the current management team which has lead Adam Pack successfully over the last several years. The structure of the sector where Adam Pack competes allows a high quality small competitor with the required support to increase significantly its market share in Europe. Relying on the strong management team and the quality of our workforce we will aim to further improve the quality of our products, maintain our leading position in Greece and provide high quality alternatives to the international milk and juice produces thus gaining market share and satisfied clients month by month and order by order.”
The investment in Adam Pack is the fourth investment of Diorama Investments SICAR. In November 2015 Diorama announced its first investment in Atlas Tapes S.A., a growing Greek company involved in the production and trading of adhesive tapes and other packaging material. This was followed in March 2016 by an investment in Damavand S.A. a leading agricultural company involved in the processing and packaging of tomato based products. Last December Diorama announced its investment in InternetQ a leading technology Greek company.
Diorama Investments SICAR is a growth fund with EUR 135 mn commitments established in Luxembourg in September 2014. Its goal is to make equity investments, usually through a capital increase, to Greek small and medium enterprises. Diorama’s shareholders comprise prominent Greek and international investors including the European Investment Fund, The European Bank for Reconstruction and Development and the European Investment Bank. Diorama is managed by DECA Investments AIFM, which is regulated by the Hellenic Capital Markets Commission.
This investment benefits from the support of the European Union under the Equity Facility for Growth established under regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Program for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).
This investment benefits from the European Fund for Strategic Investments, one of the pillars of the Investment Plan for Europe. The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth.