Filtrona's subsidiary, FIL International, has signed an agreement for the acquisition of 100% of the share capital of Contego Healthcare from Maximus and Storey Evans & Company for about 160m ($241.38m).
According to Filtrona, the acquisition of European packaging manufacturer Contego Healthcare will be reported under the company's Coated & Security Products division.
Filtrona chief executive Colin Day said the acquisition is a strategic and complementary fit for the company as it plans to leverage the capabilities which it already has across its operating divisions.
"With a blue-chip customer base, and a proven track record of profitable growth and innovation, Contego step changes Filtrona's position in the pharmaceutical and healthcare markets for our packaging solutions activities," Day said.
Contego's product portfolio is said to complement Filtrona's existing packaging solutions capabilities in the pharmaceutical and healthcare markets.
UK-based Filtrona supplies plastic, fiber and foam products and focuses on the light manufacture and distribution of essential components which serve customers in a variety of end-markets and geographies.
