MM Packaging is an Austrian coated recycled cartonboard firm with a growing position in virgin fiber based board and a major European manufacturer of folding cartons.
Based in France, Ileos designs and manufactures plastic, metal and cardboard packaging solutions for the cosmetics, pharmaceutical and wine & spirits markets.
Since December 2011 the group has been owned by investment company Oaktree Capital Management.
This latest development follows similar deals over the last two years: the sale of Contego to Essentra; the acquisition by Carlyle of Chesapeake/MPS; the sale of Graphic Packaging’s Medica to Sullivan Street; and the sale of Clondalkin Specialist Packaging to Essentra, demonstrating the rapidly changing landscape in pharmaceutical packaging as suppliers build multi-national footprints to serve the global pharmaceutical producers.
Nicholas Mockett, head of packaging M&A, Moorgate Capital, told Packaging News: “This trend looks set to continue as the pharmaceutical industry itself continues to consolidate and pharma demand growth continues in the ageing populations of the western world combined with the burgeoning middle classes in emerging markets. The business also serves the luxury markets including champagne, cognac, and fragrance which are also benefitting from the growing middle class in emerging markets and the move to premium products in established markets.”
With five sites producing folding cartons for the pharmaceutical industry and two sites producing folding cartons for luxury articles and cosmetics, Ileos 2014 sales reached €115m – about 26,000 tons of cartonboard and 6,000 tons of paper were converted.