Mondi Group acquires Excelsior
Mondi Group acquires Excelsior
Mondi Group enhances consumer packaging portfolio with acquisition of UK-based company Excelsior
Mondi Group has confirmed the successful acquisition of Excelsior, a UK consumer packaging company, for £33 million (€38 million) on a debt- and-cash-free basis. Excelsior is a vertically-integrated producer of flexible packaging solutions and the acquisition supports Mondi’s strategy to further grow its consumer packaging business.
Commenting on the acquisition, Peter J Oswald, CEO Mondi Europe & International, says, “We want to delight our customers with innovative and sustainable solutions and this acquisition allows us to offer a broader and complementary range of consumer packaging products for food applications.” Excelsior has a unique packaging technology for microwave steam cooking and its product portfolio also includes pouches, roll stock and lidding films.
Global demand for food flexible packaging solutions is expected to continue growing. This is being driven by increasing demand for extended shelf-life of fresh and prepared food, the focus on end-consumer convenience (such as pre-prepared and on-the-go meal solutions), brand enhancement and sustainability considerations. Excelsior’s leading microwavable steam cooking packaging technology meets these needs and enhances Mondi Consumer Packaging’s global food packaging portfolio.
Excelsior (registered as Excelsior Technologies Limited) has two production sites that are in Deeside (Northern Wales) and Nelson (Lancashire