Essentra gets green light to buy Clondalkin Specialist Packaging Division
The proposed transaction was notified under the Competition Act 2002 (as amended) on November 28, 2014 and includes the entire issued share capital of Blue NewCo 1 B.V. and its subsidiaries.
In a statement, The Commission said: ‘The proposed transaction will not substantially lessen competition in any market for goods or services in the States.’
The Commission will publish a public version of the reasons for its determination on its website within 60 working days of the date of the Determination and after allowing the parties the opportunity to request that confidential information be removed from the published version.
Essentra entered into an agreement to acquire Clondalkin’s Specialist Packaging Division for a cash consideration of approximately $455m last year.
Clondalkin’s SPD has production facilities in eight countries across Europe and North America and is primarily involved in the manufacture and sale of folding cartons, leaflets and labels.
In the US it is active in the packaging sector for pharmaceutical products, personal care/healthcare products, beauty products and IT related packaging.
Headquartered in the UK with locations around the world, Essentra is a FTSE 250 company and supplier of plastic, fibre, foam and packaging products.
“The acquisition of Clondalkin SPD is a compelling strategic and complementary fit for Essentra, which transforms our existing geographical capabilities to pharmaceutical and healthcare customers who are increasingly seeking a global partner for their packaging requirements,” Colin Day, CEO, Essentra, said at the time.