KMC Properties has acquired an industrial property in Denmark from the Danish paper packaging company Honeycomb Cellpack A/S (“Honeycomb”). Honeycomb provides paper-based protective packaging solutions, which is both recyclable and biodegradable. KMC Properties’ largest tenant, packaging, and insulation company BEWI ASA, has today announced its acquisition of 51 per cent of Honeycomb.
“This acquisition further confirms our growth strategy, following our tenants in their expansion and diversification. BEWI is our largest tenant, and we are pleased to be their preferred partner when they are now broadening their product offering with complementary packaging solutions,” says Liv Malvik, CEO of KMC Properties.
Honeycomb’s industrial property includes a total of six buildings, comprising a total gross floor area of 5,858 square meters and a plot area of 53,235 square meters. A triple-net bare house lease agreement has been entered with Honeycomb with an initial lease term of 12 years, with an option for Honeycomb to extend the lease term two times by five year each.
Honeycomb’s geographic focus has been the Nordic countries. In this region, the company has several close and long-lasting relations with reputable blue-chip customers.
For further information, please contact:
Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175
About KMC Properties ASA
KMC Properties is an Oslo Børs listed real estate company focusing on industrial and logistic properties. The company has a diversified portfolio of 40 properties in the Nordics and the Netherlands, as well as an office building in Moscow, Russia. The properties are strategically located and have long lease agreements with solid tenants.
KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives.