Essentra to acquire pharmaceutical packaging assets of Kamsri Printing & Packaging
MILTON KEYNES, UK, Oct. 16, 2015 (Press Release) - Essentra plc ("Essentra" or "the Company") today announces that it has signed an agreement to acquire the pharmaceutical packaging assets of Kamsri Printing & Packaging Pvt. Ltd. ("Kamsri") for an undisclosed consideration, funded from the Company's existing facilities. Completion of the transaction is expected by end-2015.
Based in Bangalore, Kamsri is a leading manufacturer of premium packaging solutions for the pharmaceutical and healthcare end-markets in India. The transaction will be immediately earnings enhancing to the Company, and will be reported under the Health & Personal Care Packaging Strategic Business Unit.
Commenting on today's announcement, Colin Day, Chief Executive, stated:
"The acquisition of Kamsri is a compelling strategic fit for Essentra, and is consistent with the Company's objective of supplementing balanced, profitable organic growth with value-adding transactions in its targeted end-markets. Indeed, with its highly complementary product range, Kamsri provides Essentra with an entry point into the attractive pharmaceutical and healthcare industries in India, thereby reinforcing our global packaging capabilities and enhancing the opportunities for our customers."
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