UK-based plastic and fibre products supplier Essentra has acquired 100% share capital of Spanish firm Nekicesa Packaging from GED Iberian and EBN Vaccaria.
Essentra closed the deal on a cash-free, debt-free basis. The corporation funded the acquisition from existing facilities.
The companies have not disclosed the total cash consideration of the transaction.
The deal strengthens the production capacity and value-added services of Essentra’s existing facility in Barcelona.
It also expands the company’s presence in pharmaceutical markets of Madrid and Barcelona, as well as establishes its business for multi-product capability in the packaging market.
Nekicesa supplies folding cartons to the Spanish pharmaceutical end-market. It operates two production facilities in Madrid.
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 supplies secondary packaging solutions such as cartons, leaflets, self-adhesive labels and printed foils to various markets, including health and personal care.
It currently operates 24 production plants across four geographic regions to serve its customers globally.