B&C Group, the main shareholder of The Lenzing Group, a Vienna-listed global supplier of cellulosic fibres for the textile and non-wovens industry, and Suzano S/A, a major pulp producer from Brazil, have signed a long-term partnership in connection with the majority stake in Lenzing.
As part of this agreement, Suzano will take over a 15% stake in Lenzing AG from B&C Group and the two shareholders will form a long-term syndicate which will hold the majority stake (52.25%) in the company.
Suzano, which is headquartered in Brazil and New York and is São Paulo listed, will acquire the €230 million stake from B&C, the current majority shareholder. Suzano has the option to acquire a further 15% stake from B&C through 2028.
Suzano, which is celebrating its centennial year, has a long-standing expertixse of both operational excellence and commitment to sustainability at all stages of its processes, that is expected to complement Lenzing’s existing business model.
Due to Suzano’s extensive experience in pulp (a key raw material for Lenzing) the deal can support Lenzing’s further development by focusing on driving revenue growth, improving profitability and expanding the company’s international competitiveness.
In line with the foundation purpose of B&C Private Foundation, the new partners have agreed on a long-term commitment to the existing Lenzing site which will ensure the company’s headquarters, production facilities and key R&D activities remain located in Austria. The partnership also guarantees the continued listing of Lenzing shares on the Vienna stock exchange.
