Essentra plc will acquire Clondalkin Specialist Packaging Division (SPD) for US$455m.
Thanks to this acquisition, Essentra will considerably strengthen its position in the pharmaceutical and health & personal care end-markets and expand its geographical footprint.
The transaction will be funded in part by a placing of up to appr. 23.7 million new ordinary shares; the balance will be funded from existing facilities.
Clondalkin SPD has 24 facilities and employs 2,400 staff. Its product portfolio comprises folding cartons, product literature and labels. For the year ended 31 December, 2013, Clondalkin SPD generated revenue of US$428.9m.