Mannock’s management team will retain a 5.3% interest after Sabanci Holdings unit, Cimsa, completes deal
Mannok , the former Seán Quinn building materials group, has been sold to Turkish group Cimsa in a deal worth €330 million. Photograph: Mannok
Mannok, most of which is owned by hedge funds, makes building materials and packaging for the food industry. Businessman Sean Quinn and his family lost control of the business a decade ago. Under the agreement, the Mannok brand will be retained as a growth hub for Cimsa and Sabanci in Ireland and Britain, and the business will continue to be led by local management.Your work questions answered: On meds for life, I must work from home. I feel stuck - and it’s getting me downThe deal marks Cimsa’s third big investment in the past three years, following recent investments in Spain and the US, and underpins its ambition to become a scale player in the British and Irish markets.
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