US-based flexible and rigid packaging solutions provider Bemis has agreed to acquire medical device packaging operations and related value-added services from SteriPack Group for an undisclosed sum.
As part of the transaction, Bemis will acquire SteriPack's Irish facility, as well as packaging production assets in Malaysia and the US.
The acquired business reported annual net sales of around $65m in fiscal 2015. The transaction is expected to completed by the end of this month.
Bemis president and CEO William Austen said: "SteriPack's strong customer relationships and modern clean room operations will complement our new and expanding global healthcare operations and will increase our capacity to meet the needs of the growing healthcare industry.
"We expect this acquisition to be modestly accretive to earnings per share in 2016."
SteriPack also provides contract manufacturing services to the medical device, pharmaceutical, and allied healthcare industries. It will now independently own and operate this business.
With around 17,500 employees, Bemis offers services to the food, consumer products, healthcare and other companies.
The firm is specialized in providing polymer chemistry, film extrusion, coating and laminating, printing and converting services.
