Essentra plc (“Essentra” or “the Company”) has today announced that it has signed an agreement to acquire Clondalkin Group’s Specialist Packaging Division (“Clondalkin SPD”) for a cash consideration of approximately US$455m. This transaction – which is expected to complete in Q1 2015 and represents Essentra’s largest acquisition to date - significantly extends the Company’s existing packaging capabilities and creates a global value proposition to serve its customers.
With 24 strategically located facilities, Clondalkin SPD is a leading global provider of a broad suite of speciality secondary packaging solutions for the pharmaceutical and health & personal care industries, and will transform Essentra’s position in these end-markets. As a leading player in North America, and with strong market positions in Europe, Clondalkin SPD’s range of technologies and capabilities support the high product quality and the versatility to deliver the complex solutions required.
The acquisition of Clondalkin SPD is consistent with Essentra’s strategy of complementing balanced, profitable organic growth with value-adding acquisitions in its targeted end-markets. The addition of Clondalkin SPD significantly enhances Essentra’s existing geographic presence in healthcare packaging and, through leveraging the combined footprint of both businesses, will allow the Company to further exploit both existing, and attractive new growth opportunities. In addition, Clondalkin SPD’s product portfolio of folding carton, product literature and labels is complementary to Essentra’s current packaging and authentication capabilities, thereby broadening the range and innovation offered to customers.
Commenting on the acquisition, Malcolm Waugh, Group Commercial Director, stated: “Clondalkin SPD is a highly attractive business, with a focus on the growing health and personal care industries, and a comprehensive offering of high quality, innovative and mission critical products to meet the exacting requirements of an international customer base, which is increasingly seeking a global partner for their packaging solutions.”
Joanna Speed, Corporate Affairs Director
+44 (0)1908 359100
Nielsen McAllister Public Relations
+44 (0)1332 293939