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$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed. The transaction is expected to close effective April 29.
“This acquisition supports Bemis’ strategy to grow our healthcare packaging business,” said William F. Austen, President and Chief Executive Officer of Bemis Company, Inc. “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. We expect this acquisition to be modestly accretive to earnings per share in 2016.”
ABOUT STERIPACK GROUP
Founded in 1994, SteriPack Group provides cleanroom sterile packaging solutions and contract manufacturing services for many of the world’s medical device, pharmaceutical, and allied healthcare industries. More information about SteriPack is available at http://steripackgroup.com/.
ABOUT BEMIS COMPANY, INC.
Bemis Company, Inc. (“Bemis” or the “Company”) is a major supplier of flexible and rigid packaging used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis reported 2015 net sales of $4.1 billion. Bemis has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs approximately 17,500 individuals worldwide. More information about Bemis is available at our website, www.bemis.com.