UK-based Essentra has completed the acquisition of Clondalkin’s specialist packaging division (SPD) for $455m, paving way for opening up the US market to Essentra as well as boost its existing presence across Europe.
Clondalkin SPD provides speciality secondary packaging solutions for pharmaceutical and health and personal care industries. It operates facilities in both North America and Europe.
The acquisition of Clondalkin's business unit is part of Essentra's Drive for 2020 strategy of complementing growth with value-adding acquisitions.
The deal includes 24 facilities in North America, the UK, Ireland, Spain, Poland and the Netherlands. The facilities have a workforce of 2,400.
With this acquisition, Essentra will be able to expand its product portfolio as well as serve a broad range of customers with their packaging requirements, the company said.
Essentra health and personal care packaging managing director Malcolm Waugh said: "The combination of Essentra's existing packaging capabilities with Clondalkin's Specialist Packaging Division is a great example of our ambition to expand our capabilities in attractive end-markets, both geographically and from a product perspective.
"Bringing together the knowledge, expertise and skills from our combined network represents a fantastic opportunity to respond even better to our customers' needs, and I am very excited to be leading the team going forward."
Essentra announced the deal last November and confirmed it had completed following regulatory approval.
Image: Clondalkin SPD expands Essentra's packaging solutions for pharmaceutical and health and personal care segments. Photo: courtesy of posterize / FreeDigitalPhotos.net.
