Erhvervsinvest exits Container Centralen A/S and completes two new platform investments
Erhvervsinvest has in a package deal sold its 50 pct. shareholding in Container Centralen A/S (“CC”) – the inventor of the CC Container, which today is the standard returnable transport item within the horticulture sector in Europe – to the Dutch trade association for wholesalers of flowers and plants, VGB.
The package deal has resulted in the sale of Erhvervsinvest IV’s shareholding in CC and acquisition of both CC’s retail activities (“CC European Retail”) and CC’s green activities in North America (“CC Green US”).
CC Green US was established in 2005 and has since then developed the leading pooling system of returnable transport items to the horticulture industry in North America.
CC Green US has its main office in Orlando, Florida and operates a closed pool of approx. 600,000 CC Containers which translates into an estimated market share of 15 pct. The pool is – by far – the largest within the North American horticulture industry.
CC Green US’ services are used by many growers in North America and can be found at more than 12,000 garden center locations, large box store retailers (e.g., Home Depot, Walmart and Lowes), club/speciality retailers, and independent garden centers.
CC European Retail is a pooling / rental company, mainly focused on returnable transport items for the retail sector. The returnable transport items include roll containers, rollies, dollies, and plastic crates for the transport and display of food products.
Customers are the suppliers of food and drink products to retailers, e.g., Redbull, Coca Cola and Unilever, and leading retailers, e.g., Albert Heijn.
CC Green Europe, is the leading pooling / rental business of returnable transport items for plants and flowers in Europe, operating an open pool of more than 3.3 million CC containers.
CC Green Europe sells its services to more than 20,000 customers including growers of plants and flowers, transporters, plant suppliers (like GASA) and the retail sector.
“We are pleased with the development that CC has undergone during our ownership period since 2018. Combined EBITDA has grown by 55 pct. from EUR 15.8 million (2017) to EUR 24.4 million reflecting numerous operational improvements and a solid growth in a stable sector”, says Thomas Marstrand, Managing Partner at Erhvervsinvest.
Thomas Marstrand adds “due to the former ownership and interests of VGB, focus has historically been higher on CC Green Europe. A focused ownership of CC Green US and CC European Retail will further strengthen and accelerate the development of the companies. A journey we look very much forward to start, including developing our partnership with the skilled management of both CC Green US and CC European Retail.”
About CC Green US
CC Green US or Container Centralen Inc. is the leading pooling / rental business for the horticulture sector in the North America. For more information visit www.cc-racks.com.
About CC European Retail
CC European Retail is a pooling / rental company, mainly focused on returnable transport items, including roll containers, rollies, dollies and plastic crates.
About CC Green Europe
CC Green Europe is the leading pooling / rental business for the horticulture sector in Europe. For more information visit www.container-centralen.com.
Erhvervsinvest was established in 2004 and has since then raised EUR 450 million in total commitments and made 31 platform investments. For more information visit www.erhvervsinvest.dk.
VGB is the Dutch trade association for wholesalers of flowers and plants. The members represent 80 pct. of the total trade with flowers and plants, which are exported from the Netherlands to a total of 116 countries. For more information visit www.vgb.nl.
For further information, please contact:
Thomas Marstrand, Managing Partner and CEO, Erhvervsinvest, phone: +45 70 20 32 95 or +45 21 65 93 26
About Erhvervsinvest, www.erhvervsinvest.dk