Filtrona, a Milton Keynes, UK-based speciality plastics manufacturer, has completed its acquisition of Contego Healthcare for around £160m in cash.
Established in 1991, Contego Healthcare provides print, packaging and support services to the pharmaceutical and healthcare markets, supplying cartons, leaflets, foils and labels. It has a pan-European focus with 10 manufacturing sites in the UK, Italy, Germany, France and Ireland and more than 900 staff. Its head office is in Bagshot in the UK and its main manufacturing site is in Bradford.
Contego will now operate as part of Filtrona’s Coated and Security Products (C&SP) Division, which includes Payne packaging solutions, Payne Security authentication and identity technologies and Duraco speciality tapes.
Managing Director Gerard Harford will head the Contego business and report to Alison Evans, Managing Director, C&SP.
Filtrona says the purchase enhances the ‘range and innovation opportunities’ offered to existing Contego and Filtrona customers, while providing access to new business.
We believe the addition of Contego’s capabilities to the Filtrona C&SP Division will provide pharmaceutical and healthcare manufacturers with an extensive range of tailored packaging solutions
‘Through our Payne business we are already focused on the development of packaging solutions which deliver added value in terms of convenience, safety and brand image through the incorporation of features that meet the critical demands of effective opening, closing, informing and protecting,’ said Evans.
‘We believe the addition of Contego’s capabilities to the Filtrona C&SP Division will provide pharmaceutical and healthcare manufacturers with an extensive range of tailored packaging solutions that meet a wide variety of product and end-user requirements.’
A number of C&SP technologies are complementary to Contego’s expertise in the production of cartons, leaflets, foils and labels.
Evans added: ‘The combined business can offer an impressive depth of resource and enhanced global reach and will continue to innovate in the development of new products and solutions to meet the fast-changing demands of this dynamic sector.’
Harford said Contego’s knowledge of the market and strong relationships with many blue-chip companies means that it has a solid understanding of the many demands and challenges of the sector.
‘Now as part of a stable and growth-oriented plc we have an excellent opportunity to work together in the development of packaging solutions that will make a real difference,’ he said.
With the completion of the deal, Tom Reid and Leon Taviansky will step down from their respective positions as CEO and CFO of Contego.
