Neenah’s paper-based gift card offering is now significantly strengthened by the recent acquisition of a state of the art lamination asset from Hazen Paper. Hazen Paper is a world-class paper converter whose expertise and products enjoy wide acceptance in this growing market segment. As part of this asset acquisition, more than 25 experienced employees will join the Neenah team to ensure a smooth transition. Brands such as Amazon, Facebook and Ben & Jerry’s have chosen paper gift cards over plastic. The list of brands making the switch from plastic to paper gift cards grows longer every day. Paper cards eliminate the need for fossil fuel-based production, and keep toxic plastic gift cards out of the landfill. Click Read More below for additional detail.
Mayr-Melnhof Group (MM) has entered into an agreement to buy Essentra Packaging (100% equity interest in ESNT Packaging & Securing Solutions Limited (UK) and its affiliates and 100% equity interest in Essentra Packaging US Inc (US)) from Essentra plc (UK) for GBP 312 million – currently around EUR 365 million – (“cash and debt free”).
The acquisition of Essentra Packaging serves to implement MM Packaging’s strategy to grow in profitable and resilient segments such as pharma secondary packaging and strengthens its position in the European market for pharma folding boxes and leaflets. Additionally, this acquisition expands MM’s presence in the US market with a significant position in the East Coast pharma hub.
Essentra Packaging reported sales of around £370m for 2021 – currently c.€430m. The company comprises 21 production sites in 10 countries in Europe and North America, ideally complementing MM Packaging’s current position in Scandinavia through the recently acquired Eson Pac and the existing business in France. Essentra Packaging serves over 800 customers worldwide, including 19 of the top 20 pharmaceutical companies, and employs over 3,500 people.
MM CEO, Peter Oswald, comments: “For us, the acquisition of Essentra Packaging is a game changer in the profitable, resilient and growing market for pharmaceutical packaging. We have identified attractive upside potential and synergies and are well positioned to master the integration challenge “The merger is an excellent complement to our current position and will enable more innovations for sustainable packaging solutions in the pharmaceutical sector. We have great confidence in creating a promising future together with the Essentra Packaging team.”
more at: https://www.mm.group/newsroom/presseaussendungen/akquisition-von-essentra-packaging-positioniert-mm-als-einen-weltweit-fuehrenden-hersteller-von-pharmaverpackungen/