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Bids, Mergers and Takeovers

Mondi Group acquires 100% of Excelsior Technologies

06 February 2017 10:01

Mondi Group says it has acquired 100% of the outstanding share capital of Excelsior Technologies Ltd from funds managed by Endless LLP and certain other minority shareholders.

Total consideration was £33m, on a debt- and cash-free basis.

Excelsior is a vertically integrated producer of innovative flexible packaging solutions, mainly for food applications, with a unique packaging technology for microwave steam cooking.

With two plants, located in Deeside (Northern Wales) and Nelson (Lancashire) the Company serves both domestic and US customers.

For the year to Dec. 31, 2016, Excelsior generated revenues of £39m.

At 10:01am: (LON:MNDI) Mondi PLC share price was -0.5p at 1765.5p

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