Mayr-Melnhof Packaging readies for growth in France. The company has made an €80m offer to acquire the folding carton operations of Ileos SA.
Mayr-Melnhof Packaging, the packaging arm of Austria's Mayr-Melnhof Group, has presented an offer to acquire the folding carton operations of Ileos SA. The purchase price amounts to approximately €80m, according to Mayr-Melnhof.
The French company is producing folding cartons for the pharmaceutical industry, luxury articles and cosmetics at seven facilities in France. In 2014, the folding carton business of Ileos converted 26,000 t of cartonboard and 6,000 t of paper, with sales amounting to €115m, Mayr-Melnhof explained.
Ileos has been owned by Oaktree Capital Management since 2011. The company designs and manufactures plastic, metal and cardboard packaging solutions for cosmetics, pharmaceutical and wine and spirits markets. It counts multinational companies such as Dior, Yves Rocher, Sanofi, Procter & Gamble, L'Oreal among its customers.
In 2013, the Ileos group generated net sales of €400m.