APTARGROUP
Acquisition of US protective packaging specialist CSP / Binding offer includes production site in France
 CSP Technologies specialises in active packaging solutions, such as for blister packs (Photo: CSP Technologies) |
Consumer packaging manufacturer AptarGroup (Crystal Lake, Illinois / USA; www.aptargroup.com) has made a binding offer to acquire CSP Technologies (Auburn, Alabama / USA; www.csptechnologies.com) for an enterprise value of USD 555m. Aptar says the consultation process with CSP Technologies’ works council in France will begin "as soon as possible." The transaction has been approved by Aptar's board of directors, and is expected to close in the fourth quarter of 2018.
The company announced its binding offer for CSP Technologies in its Q2 operating results. For the quarter ending 30 June 2018, Aptar reported sales rose to USD 711m, compared to USD 618m the year before. Core sales, excluding the positive impact from currency exchange rates and acquisition effects, increased approximately 11%.
CSP Technologies is an affiliate of French investment firm Wendel (Île-de-France; www.wendel-group.com), which acquired CSP at the beginning of 2015 – see Plasteurope.com of 05.02.2015. The US company is an active packaging technology specialist, especially for moisture protection and gas scavenging solutions, with over 400 patents. Its portfolio includes vials, films and blisters, moulded components and specialised packaging solutions, which protect sensitive products in pharmaceuticals, drug delivery systems, medical devices, diagnostics, food and electronic components. Its reported revenues in 2017 were USD 136m.
CSP has one manufacturing site in Niederbronn-les-Bains / France and two in the US at Atlanta, Georgia, and Auburn, Alabama. With CSP having sales offices in Osaka / Japan and Hong Kong / China, Aptar says there are expansion opportunities in Asia and other high-growth economies.
Aptar is growing its business in the French cosmetics packaging sector as well. Several months ago, the company bought packaging manufacturer Reboul (Chavanod / France; www.reboulsas.com) – see Plasteurope.com of 08.05.2018.
According to Smithers Pira, the global active packaging sector is expected to reach USD 4.62 bn in 2018 – see Plasteurope.com of 01.06.2018. Gas and moisture scavengers make up about two thirds of the global market value of active packaging technologies.
The company announced its binding offer for CSP Technologies in its Q2 operating results. For the quarter ending 30 June 2018, Aptar reported sales rose to USD 711m, compared to USD 618m the year before. Core sales, excluding the positive impact from currency exchange rates and acquisition effects, increased approximately 11%.
CSP Technologies is an affiliate of French investment firm Wendel (Île-de-France; www.wendel-group.com), which acquired CSP at the beginning of 2015 – see Plasteurope.com of 05.02.2015. The US company is an active packaging technology specialist, especially for moisture protection and gas scavenging solutions, with over 400 patents. Its portfolio includes vials, films and blisters, moulded components and specialised packaging solutions, which protect sensitive products in pharmaceuticals, drug delivery systems, medical devices, diagnostics, food and electronic components. Its reported revenues in 2017 were USD 136m.
CSP has one manufacturing site in Niederbronn-les-Bains / France and two in the US at Atlanta, Georgia, and Auburn, Alabama. With CSP having sales offices in Osaka / Japan and Hong Kong / China, Aptar says there are expansion opportunities in Asia and other high-growth economies.
Aptar is growing its business in the French cosmetics packaging sector as well. Several months ago, the company bought packaging manufacturer Reboul (Chavanod / France; www.reboulsas.com) – see Plasteurope.com of 08.05.2018.
According to Smithers Pira, the global active packaging sector is expected to reach USD 4.62 bn in 2018 – see Plasteurope.com of 01.06.2018. Gas and moisture scavengers make up about two thirds of the global market value of active packaging technologies.
31.07.2018 Plasteurope.com [240314-0]
Published on 31.07.2018
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