Listed through acquisition by Dutch Star Companies TWO, renamed Cabka N.V.
2nd SPAC business combination on Euronext markets in 2022
2nd successful business combination by Dutch Star Companies
Amsterdam – 1 March 2022 – Euronext today congratulates Cabka, a leading integrated circular production company, on its listing on Euronext Amsterdam (ticker code: CABKA).
Cabka recycles plastics from post-consumer and post-industrial waste into innovative reusable pallets and large container solutions enhancing logistics chain sustainability. The company was listed through the acquisition by Dutch Star Companies TWO (DSCT), a Special Purpose Acquisition Company (SPAC) that was welcomed to Euronext markets on 19 November 2020.
DSCT invested €110 million of which it will provide Cabka with approximately €45 million in extra capital to support and accelerate growth of the company.
The acquisition of Cabka by DSCT is the second business combination completed by a SPAC on Euronext markets thus far in 2022. Dutch Star Companies launched its first SPAC - Dutch Star Companies ONE - in 2018, which resulted in the business combination with CM.com on 21 February 2020.
Tim Litjens, CEO of Cabka, said: “The listing of Cabka in Amsterdam is a major step in accelerating the transformation of Cabka to realize its ambitions. We feel inspired to further focus on growing Cabka and strengthening our position as a now listed leader in the circular production of reusable plastic pallets and large containers for smart logistics.”
Caption: Founder and vice-chairman of the supervisory board of Cabka, Gat Ramon and his wife Heike, together with Tim Litjens, CEO, and the boards of Cabka and the Dutch Star Companies team, sounded the Gong this morning to celebrate the listing of the company through the business combination with the SPAC Dutch Star Companies TWO. They were welcomed by Simone Huis in ‘t Veld (CEO Euronext Amsterdam) and René van Vlerken (Head of Listing Euronext Amsterdam).
About Cabka Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable pallets- and large container solutions enhancing logistics chain sustainability. Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products. Cabka employs some 700 FTE in Europe and the US recycling 150 kton of plastics into some 10 million pallets and 200,000 large containers realizing €171m in revenues, in 2021.