6th Jul 2018 07:48
LONDON (Alliance News) - Essentra PLC on Friday said it has acquired the entire share capital of a Swedish plastic components maker for approximately GBP4.9 million in cash.
FTSE 250-listed Essentra makes and distributes packaging, cigarette filters, and other component parts. It bought the company, Nolato Hertila AB, for SEK58 million, which is about GBP4.9 million.
Nolato Hertila distributes and manufactures caps, plugs, and other plastic components. It will be join Essentra's Components division, allowing Essentra Components to expand its product range, the company said and will complement Essentra's existing facility in Sweden.
In 2017, Nolato Hertila recorded SEK39.9 million in revenue.
"As a leading provider of caps and plugs, Hertila strengthens one of our core product ranges, adds valuable injection moulding capability in northern Europe and provides attractive opportunities for cross-selling," said Essentra Chief Executive Paul Forman.
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