Mayr-Melnhof Company News - Takeover of pharma packaging maker Essentra Packaging
MM Group acquires Essentra Packaging for an EV of approx. EUR 365 mnThe target looks like a good strategic fit, expanding the exposure to a resilient and growing end-market and complementing the geographic footprint
Essentra generated revenues of about EUR 430 mn and pro-forma EBITDA of ca. EUR 37 mn in FY 21
Operational excellence as main driver to improve profitability towards industry standards, synergies should reach a low double digit mn figure until FY 24
We have an initially positive view on the acquisition
Mayr-Melnhof Karton and its subsidiaries are primarily engaged in manufacturing and selling cartonboard and folding cartons with a focus on Europe. Co.'s business segments include: Mayr-Melnhof Karton, which is engaged in the manufactures and markets numerous grades of cartonboard, concentrating on coated cartonboard produced predominantly from recovered paper as well as virgin fiber-based cartonboard; and Mayr-Melnhof Packaging, which is engaged in converts cartonboard into industrial printed folding cartons mainly for the food industry, other consumer goods industries, and into cigarette packaging as well as confectionary packaging.
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