Acquisitions this week
By Canadian Packaging staffGeneral ASP FiberMark AVINTIV Inc. Berry Plastics Group Cemtrex DIC DS Smith Plc Grupo Lantero Kingfisher Colours Limited Mondi Consumer Packaging International GmbH Mondi Ipoh Sdn Bhd Neenah Paper Packaging company acquisition Scientex Berhad Scientex Packaging Film Sdn Bhd Sun Chemical The Blackstone Group LP
A brief mention of company mergers and acquisitions during this week…
Some of the acquisitions this week from around the packaging world.
1) DS Smith Plc, the leading provider of recycled corrugated packaging in Europe, has completed the acquisition of the corrugated activities of Grupo Lantero for approximately €190m (~CDN $275.2 million) following receipt of competition authority clearance.
The business is a well-invested Iberian corrugated producer with a strong focus in the FMCG sector, operating seven sites across Spain.
2) Berry Plastics Group, Inc. has entered into a definitive agreement to acquire AVINTIV Inc. from private equity funds managed by The Blackstone Group LP for approximately US$2.45 billion (~CDN $3.2 billion) in cash on a debt-free, cash-free basis.
AVINTIV is a global leading developer, producer and marketer of specialty materials used in infection prevention, personal care, and high-performance solutions. It has 23 locations in 14 countries, and an employee base of over 4,500 people.
3) Neenah Paper, Inc. has completed the purchase of all of the outstanding equity of ASP FiberMark, LLC from an affiliate of American Securities LLC for a purchase price of US$120 million (~CDN $158.1 million).
FiberMark, with annual sales of over $160 million, is a specialty coating and finishing company with a strong presence in luxury packaging and overlapping technical product categories.
4) Cemtrex has announced it has entered into a Letter of Intent to purchase a leading U.S. based industrial manufacturing and services company.
The unnamed target company’s average revenues and normalized EBITDA over the past two years was approximately US$23 million (~CDN$30.3 million) and US$2.4 million ~CDN 3.2 million) respectively.
The parties have initiated a period of exclusivity, which is intended to result in a definitive purchase agreement.
5) Global packaging manufacturer and leading property developer Scientex Berhad has through its subsidiary signed a share purchase agreement to acquire packaging player Mondi Ipoh Sdn Bhd for a purchase consideration of (Malaysian Ringgit) RM58 million (~CDN $19.4 million) to expand its consumer packaging division.
The purchase will see Scientex’s wholly-owned subsidiary Scientex Packaging Film Sdn Bhd acquire a 100 percent stake in MISB from Mondi Consumer Packaging International GmbH, a wholly-owned subsidiary of international packaging and paper group Mondi.
6) Sun Chemical and its parent company, DIC, have acquired Kingfisher Colours Limited, a privately-owned decorative cosmetics color manufacturer based in Reading, U.K.
With the acquisition, Sun Chemical will expand its leading global position in the decorative color cosmetics marketplace. Together with Kingfisher’s complementary color portfolio, Sun Chemical can provide cosmetics formulators new, innovative styling looks while further expanding color space capabilities.
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