RDIF and co-investors close the transaction to invest up to EUR 250 million in Arc, a leading global glassware manufacturer
Moscow, 25 October 2016– А consortium of investors, led by the Russian Direct Investment Fund (RDIF), CDC International Capital (CDC IC), a subsidiary of the French sovereign financial institution Caisse des Dépôts, and Bahrain Mumtalakat Holding Company (Mumtalakat) announces the closing of the transaction with Arc, a leading global glass tableware manufacturer based in Arques, France. The deal follows a preliminary agreement, signed on 17 June 2016.
The proceeds from the deal, which will see the consortium investing up to EUR250m in Arc, will be used by the company to implement a global investment program including expansion of its existing production facilities in Russia and construction of a new state-of-the-art glassware plant in Kaliningrad. The parties have completed the first drawdown of EUR 50 million.
Konstantin Ryzhkov, Deputy CEO of the Russian Direct Investment Fund (RDIF), said:
"This is an example of a partnership between sovereign wealth funds to invest into a global company, supporting its development in the countries of operations, as well as leveraging market opportunities and cost advantages that Russia provides. We are pleased that the deal has become our first investment under the Russia-France investment platform."
Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at rdif.ru
CDC International Capital is the investment arm of French Caisse des Dépôts Group dedicated to long term investments with sovereign wealth funds and large international institutional investors. CDC International Capital has developed a network of Middle Eastern, Russian, Asian and North American institutional partners and operates through various investment structures.
Mumtalakat is a holding company mandated to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles. Mumtalakat holds stakes in over 40 commercial enterprises, with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products and education.
Arc – employs 10,160 people worldwide, including 5,260 in France. The Group, whose head office is located in Arques, in the French “Hauts de France” region, achieved gross sales of €849 million in 2015. Armed with its know-how in glassware, it developed globally and currently markets its complete tableware ranges to more than 160 countries. The Group covers the Consumer Goods and Food Service markets through a portfolio of brands – Luminarc®, Arcoroc®, Arcopal®, Cristal d'Arques® Paris, Chef & Sommelier®. The market share of Arc brands in Russia is over 30%. Arc already operates a production site in Russia, the Opitny Stekolny Zavod factory in Gus-Khrustalny, in the Vladimir region. Starting in 2018, Arc plans to produce glassware in sodolime and opal glass ina new modern plant in Kaliningrad. The new plant will be the only one producing opal tableware in the CIS countries and Eastern Europe, with a manufactured products capacity of 53,000 tons, of which 70 % will be sold locally. The new industrial project is expected to lead to the creation of 1,050 new jobs in the region.
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133
ArcCDC International Capital
Sylvain Fort/Daphné Claude
Steele & Holt
Tel. +33 6 21 89 11 05
Karim Zouaneb / Thomas Vettier – GOA CONSEIL
Tel: +33 6 74 34 12 87
Sandrine Mieze, Arc
Corporate Communication Manager
Tel: +33 3 21 12 75 41