British specialty plastics supplier Essentra has completely acquired the Ireland-based folding cartons manufacturer Dakota Packaging for an undisclosed amount.
Dakota, which supplies printed, folding and litho-laminate cartons to the pharmaceutical and healthcare markets in Ireland, will be integrated into Essentra's Packaging & Securing Solutions division.
With the transaction, the company expects to strengthen its product range and customer base in healthcare packaging segment of the region.
Essentra chief executive Colin Day said the acquisition of Dakota is consistent with the company's Vision 2015 strategy of supplementing balanced, profitable organic growth with value-creating transactions.
"With its complementary product range and strong, long-standing customer relationships, Dakota is not only a compelling fit with our recent acquisition of Contego Healthcare Limited in the attractive growth healthcare and pharmaceutical packaging sector, but also reinforces our position in the sizeable Irish market," Day added.
The transaction was made on a cash-free, debt-free basis, and was funded from Essentra's existing facilities.
