Mondi Group acquires Excelsior Technologies

Mondi Group has acquired 100 percent of the outstanding share capital of Excelsior Technologies from funds managed by Endless LLP and certain other minority shareholders, for a total consideration of 33 million GBP (41 million USD) on a debt and cash-free basis.

The acquisition of Excelsior supports the development of Mondi's Consumer Packaging business in high growth product applications

Excelsior is a UK-based vertically integrated producer of flexible packaging options, mainly for food applications, with a unique packaging technology for microwave steam cooking. With two plants, located in Deeside, North Wales and Nelson, Lancashire, the company serves both domestic and US customers. For the year ended December 31, 2016, Excelsior generated revenues of 39 million GBP (48.5 million USD).

David Hathorn, Mondi Group chief executive, 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.’

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