6th Feb 2017 08:05
LONDON (Alliance News) - Anglo-South African paper and packaging company Mondi PLC on Monday said it has acquired Excelsior Technologies Ltd for GBP33.0 million in cash from turnaround firm Endless LLP.
Excelsior makes flexible packaging products, mainly for food, including a unique packaging technology for microwave steam cooking. It has plants in Deeside in north Wales and in Nelson in Lancashire and made GBP39.0 million in revenue in 2016, Mondi 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," said Mondi Chief Executive David Hathorn.
By Sam Unsted; [email protected]; @SamUAtAlliance
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