Essentra has acquired 100% of the share capital of Nekicesa Packaging for an undisclosed cash consideration
Essentra, a UK-based company that manufactures supplier of plastic and fibre products, has announced the acquisition of the share capital of Spanish packaging company Nekicesa Packaging from GED Iberian B and EBN Vaccaria for an undisclosed amount.
Nekicesa owns two facilities in Madrid and is one of the major converters of folding cartons supplying the pharmaceutical end-market in Spain.
The acquisition of Nekicesa is expected to increase the manufacturing capacity and value-added service capability in Barcelona, giving the UK company a presence in the pharmaceutical hubs in Spain.
Deal to help Essentra gain multi-product capability
The deal is also expected to establish the company as a major player with the potential for multi-product capability in the packaging market.
It acquired Nekicesa on a cash-free, debt-free basis. The transaction has been funded from existing facilities, and the transaction will immediately enhance earnings to the company.
Essentra chief executive Paul Forman said: “The acquisition of Nekicesa is indicative of the value-creating acquisition opportunities which are available to us now that our Packaging division has successfully been stabilised.
“With a proven track record of profitable growth under an experienced management team, Nekicesa is a great fit with our own business in Barcelona as we continue to focus on our strategic objective of being the leading dedicated supplier of specialist secondary packaging and value-added services to the global pharmaceutical, personal care and beauty industry.
“I would like to welcome all at Nekicesa to Essentra and wish them every success.”
Essentra, a company that provides essential components and solutions, has four global divisions that focus on components, packaging, filters, and specialist components.
The company focuses on the light manufacture and distribution of high volume, enabling components that serve customers in a variety of end-markets and geographies.
It has a global network in 34 countries and includes 45 principal manufacturing facilities, 30 sales and distribution operations and four research and development centres.