US company Bemis snaps up Steripack
The medical packaging operations of Irish sterile packaging company Steripack are to be acquired by Wisconsin-based Bemis Company for an undisclosed sum.
The US firm said the deal is expected to close on April 29. Bemis will take over a factory in Offaly, and will also get "related value-added services".
"This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65m in 2015," Bemis said.
Bemis president and chief executive William F Austen said the deal "supports Bemis' strategy to grow our healthcare packaging business". He said he expected it would add modestly to the company's earnings per share in 2016.
"SteriPack's strong customer relationships and modern clean room operations will complement our new and expanding global healthcare operations and will increase our capacity to meet the needs of the growing healthcare industry," he added.
Steripack's headquarters are in Clara, Co Offaly. It will maintain ownership of its contract manufacturing business.
Garry Moore, founder and chief executive of Steripack Group, said the company believes Bemis "will continue to build upon the strong customer relationships and world class operations established by SteriPack over the last 21 years."
"We look forward to focusing on the development of our contract manufacturing business across the globe," he added.
XMS Capital Partners, with offices in Dublin, London, and Chicago acted as financial advisor to Bemis.