Bewi Invest AS

M&A Activity • May 18, 2022

BEWI becomes 100% owner of leading UK based insulation and packaging company Jablite Group

BEWI becomes 100% owner of leading UK based insulation and packaging company Jablite Group

BEWI, a leading provider of packaging, components, and insulation solutions,

announces that the company acquires an additional 51 per cent of the leading UK

based insulation and packaging company Jablite Group ("Jablite"), with an annual

turnover of approximately GBP 40 million, becoming 100 per cent owner of the

company. BEWI first announced its acquisition of 49 per cent of Jablite in June

Jablite has approximately 50 years of experience from innovating and developing

EPS solutions for insulation and packaging. The Jablite Group includes the

manufacturer and supplier of solutions for insulation and civil engineering

named Jablite and the producer of packaging products named Styropack.

In 2020, the company initiated a comprehensive restructuring programme,

including closure of two facilities, optimising the production footprint, in

addition to several other cost initiatives. The completed restructuring has

resulted in significant profitability improvement over the last two years.

Jablite has grown to become a leading provider of insulation and packaging

solutions in the UK, with an annual turnover of approximately GBP 40 million and

an EBITDA margin in the range of 5 to 10 per cent.

"We are very pleased to now be able to include Jablite fully to our team. The

company has shown an impressive development the last two years, and we look

forward to further strengthen our market position in the UK together going

forward," says Christian Bekken, CEO of BEWI.

"Jablite's operations will also complement the UK based operations of Jackon

very well, so we see a great potential for synergies by combining the two

entities as soon as the Jackon transaction is completed," Bekken adds.

The current management of Jablite, including managing director Richard Lee and

finance director John Cooper will continue in their roles going forward. Rik

Dobbelaere, previous CEO of Synbra Holding and BEWiSynbra Group, and director of

the board of BEWI ASA, has been director of the board of Jablite since BEWI's

acquisition of the 49 per cent stake in 2020.

The total consideration for the remaining 51 per cent of Jablite is

approximately GBP 10 million and will be settled in cash.

Contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756

1959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation

solutions. The company's commitment to sustainability is integrated throughout

the value chain, from production of raw materials and end goods, to recycling of

used products. With a vision to protect people and goods for a better every day,

BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with

the EU Market Abuse Regulation. The information was submitted for publication,

through the agency of the contact person set out above, at 13:30 CEST on 18 May

2022.