ACQUISITION OF DAKOTA PACKAGING LIMITED

RNS Number : 5047S

Essentra plc

08 November 2013

 

8 November 2013

ESSENTRA PLC

A leading international supplier of speciality plastic, fibre, foam & packaging components

ACQUISITION OF DAKOTA PACKAGING LIMITED

Essentra plc ("Essentra" or "the Company") today announces that it has acquired 100% of the share capital of Dakota Packaging Limited ("Dakota") for an undisclosed sum.  Dakota has been acquired on a cash-free, debt-free basis, and was funded from the Company's existing facilities.

Based in Dublin, Dakota is a well-positioned supplier of printed, folding and litho-laminate cartons to the pharmaceutical and healthcare end-markets in Ireland, and will be reported under the Company's Packaging & Securing Solutions division.  The acquisition of Dakota not only reinforces the division's product range and customer base in healthcare packaging, it also provides significant additional scale in the Irish market.  For the year ended 30 September 2013 Dakota generated revenue of €15.2m, and the transaction will be immediately earnings enhancing to the Company.

Commenting on the acquisition, Colin Day, Chief Executive, said:

"The acquisition of Dakota is consistent with Essentra's Vision 2015 strategy of supplementing balanced, profitable organic growth with value-creating transactions.  With its complementary product range and strong, long-standing customer relationships, Dakota is not only a compelling fit with our recent acquisition of Contego Healthcare Limited in the attractive growth healthcare and pharmaceutical packaging sector, but also reinforces our position in the sizeable Irish market."

Enquiries

Essentra plc Joanna Speed, Corporate Affairs Director Tel: [phone]

Buchanan Richard Oldworth Jeremy Garcia Tel: [phone]

Notes to Editors

Essentra plc is a FTSE 250 company and a leading international supplier of speciality plastic, fibre, foam and packaging products.  Through its four principal operating divisions, Essentra focuses on the light manufacture and distribution of high volume, essential components which serve customers in a wide variety of end-markets and geographies.

Component & Protection Solutions

The Components business is a global market leading manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal items.  Operating units in 23 countries serve a very broad industrial base of customers with a rapid supply of primarily plastic products for a variety of applications in industries such as hydraulics, pneumatics, electrical controls and construction.

The Pipe Protection Technologies business specialises in the manufacture of high performance innovative products from commodity resins to engineering-grade thermoplastics and polymer alloys for use in a range of end-markets.  Locations in four countries, combined with a wide distributor network, serve customers around the world.

Porous Technologies

A global market leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded and non-woven fibre, polyurethane foam and porous plastic.  Representing leading innovations used in healthcare, consumer and industrial applications, its enabling components are found in a wide range of products from medical diagnostics tests to advanced wound care pads, inkjet printer cartridges, writing instruments, clean room wipes and air fresheners.  Customers in over 56 countries are served from six manufacturing facilities with research and development centres supporting the division globally.

Packaging & Securing Solutions

A leading global provider of packaging and securing solutions to a diversified blue-chip customer base. With a focus on delivering value adding innovation, quality and service to customers through a range of cartons, tapes, leaflets, foils and labels for the healthcare, consumer and specialist packaging, point of sale and paper & board industries. The division is also a leading supplier of authentication technologies and identity solutions. Customers in over 100 countries are served from facilities operating in eight countries.

Filter Products

The only global independent cigarette filter supplier.  The nine worldwide locations, including a UK-based research facility and three regional development centres provide a flexible infrastructure strategically positioned to serve the tobacco industry.  The division supplies a wide range of value adding high quality innovative filters, packaging solutions to the roll your own sector and analytical laboratory services for ingredient measurement for the industry.

Other

The Extrusion business is a leading custom profile extruder located in The Netherlands and offers a complete design and production service.  One of the first companies to extrude plastics in 1956, it is now one of Europe's most advanced suppliers of co-extrusions and tri-extrusions to all branches of industry.

Headquartered in the United Kingdom, Essentra's global network extends to 29 countries and includes c. 5,500 employees, 42 principal manufacturing facilities, 64 sales & distribution operations and 5 research & development centres.  For further information, please visit www.essentra.com.  

 

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