Nip Impressions logo
Mon, Aug 15, 2022 15:10
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Mayr-Melnhof Group acquires Essentra Packaging

AUSTRIA (News release) -- Mayr-Melnhof Group (MM) has agreed to acquire Essentra Packaging (100% of the shares in ESNT Packaging & Securing Solutions Limited (UK) and its affiliated companies, as well as 100% of the shares in Essentra Packaging US Inc (US)) from Essentra plc (UK) for a cash and debt free consideration of GBP 312 million (currently approx. EUR 365 million).

The acquisition of Essentra Packaging implements MM Packaging's strategy to grow in profitable and resilient segments such as pharma secondary packaging and strengthens its position in the European pharma carton & leaflets market. In addition, this acquisition will expand MM's footprint into the US market with an important position in the East-Coast pharma hub.

Essentra Packaging has reported 2021 sales of c. GBP 370 million (currently approx. EUR 430 million). Essentra Packaging has 21 manufacturing sites in 10 countries in Europe and North America ideally complementing MM Packaging's current positions in the Nordics through recently acquired Eson Pac and its legacy business in France. The company delivers to a global customer base of 800+ customers, including 19 of the top 20 pharma companies. Essentra Packaging employs more than 3,500 people.

The purchase price will be paid from existing cash reserves and committed credit lines. The transaction is subject to the fulfilment of customary closing conditions (e.g. regulatory approvals). Closing of the transaction is expected in Q4 2022.

You get lots of valueless email, sign up for newsletters that can promote your career.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: