Mondi acquires Excelsior Technologies | Fin24

Mondi acquires Excelsior Technologies

Feb 08 2017 18:14

Johannesburg - Mondi Group [JSE:MND] has acquired 100% of the outstanding share capital of Excelsior Technologies from funds managed by Endless LLP and certain other minority shareholders, for a total consideration of £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, UK) and Nelson (Lancashire, UK) the company serves both domestic and US customers. For the year ended 31 December 2016, Excelsior generated revenues of £39m.

Commenting on the acquisition, David Hathorn, CEO of Mondi Group, said: "The acquisition of Excelsior supports the development of our Consumer Packaging business in high growth product applications. Its leading microwave steam cooking packaging technology complements and enhances our global food packaging offering."

Read Fin24's top stories trending on Twitter:

mondi  |  mergers and acquisitions  |  industrial


Company Snapshot


Struggling power utility Eskom will take centre stage at this year's mini budget

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote