Increases pharma and healthcare activities to 28% of annual sales
Pharmaceutical packaging firm Clondalkin Group has agreed to buy Catalent’s Printed Components business.
Financial terms have not been revealed and the closure of the deal is subject to regulatory approval. At closing Clondalkin and Catalent will also enter into a long-term supply agreement.
With annual sales in excess of US$100m (€75m), Printed Components manufactures secondary packaging products for the pharmaceutical and healthcare markets at four locations in the US, Puerto Rico and Ireland.
Clondalkin, headquartered in Amsterdam, The Netherlands, produces flexible and specialist packaging products. The Group has annual sales in excess of $1.1bn (€850m) from more than 40 production locations in 10 countries throughout Europe and the US.
Norbert McDermott, Clondalkin Group’s chief executive, said the acquisition will take the Group’s customer service offering to a ‘new level of unrivalled capabilities and possibilities in location, technology and product choices’.
‘Over the past five years, we have been the most significant investor in this market. Catalent’s Printed Components business provides important capabilities that are valued by pharmaceutical and healthcare customers and are an excellent strategic fit in complementing Clondalkin’s products and services,’ he said.
In the US, the acquisition further expands the Group’s ability to offer full-service dedicated pharmaceutical and healthcare production facilities at nine locations in North Carolina, New Jersey, Indiana, Connecticut and Puerto Rico.
In Europe, combining Catalent’s cartons expertise with Clondalkin’s inserts, leaflets and labels expertise presents business development and cross-selling opportunities for Clondalkin’s nine pharmaceutical and healthcare production facilities in Ireland, Spain, the UK and Poland, McDermott added.
The acquisition will increase Clondalkin’s pharmaceutical and healthcare activities to approximately $340m (€257m) and to 28% of annual sales.
Barry Russell, president of Catalent’s Medication Delivery Solutions business, said: ‘We are pleased that Clondalkin Group has agreed to acquire the business. We believe that Clondalkin will continue to build upon the business’s legacy of excellent service and high quality.’