Mayr-Melnhof Packaging readies for growth in France
MM Packaging has made an offer to acquire the folding carton operations of Ileos SA, owned by funds of Oaktree Capital Management L.P. The company has five sites producing folding cartons for the pharmaceutical industry and two sites producing folding cartons for luxury articles and cosmetics. All sites are located in France. In 2014 sales amounted to approximately EUR 115 million; about 26,000 tons of cartonboard and 6,000 tons of paper were converted.
The purchase price will amount to approximately EUR 80 million.