Bemis Company, Inc. announced that it has signed a definitive agreement to acquire the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed. The transaction is expected to close effective April 29, 2016.
“This acquisition supports Bemis’ strategy to grow our healthcare packaging business,” said William F. Austen, President and Chief Executive Officer of Bemis Company, Inc. “SteriPack’s strong customer relationships and modern clean room operations will complement our new and expanding global healthcare operations and will increase our capacity to meet the needs of the growing healthcare industry. We expect this acquisition to be modestly accretive to earnings per share in 2016.”
XMS Capital Partners, LLC is acting as financial advisor and Squire Patton Boggs LLP is acting as legal advisor to Bemis Company.
Mason Hayes Curran is acting as legal advisor and Russell Brennan Keane and Deloitte are acting as tax advisors to SteriPack Group.
Source : bemis.com