09.18.15
Mondi Group has signed an agreement for the acquisition of 100% of the outstanding share capital of Ascania Nonwoven Germany GmbH from Schloss Neugattersleben Group, a private equity investment group.
Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products. The business operates from one site based in Aschersleben, Germany. A key supplier of nonwovens for diaper elastic laminates to Mondi, Ascania's business will be integrated into Mondi’s Consumer Packaging Business Unit. For the twelve months ended May 31, 2015, Ascania generated unaudited revenues of €53 million and employed about 150 people
Commenting on the acquisition, David Hathorn, CEO of Mondi Group, says: “This acquisition supports the development of our Consumer Packaging business. It will strengthen Mondi’s position as the preferred supplier of hygiene components such as elastic laminates for diapers and enable further growth with innovative products for baby diapers and adult incontinence, femcare and medical applications."
Mondi Consumer Packaging is a globally operating manufacturer of consumer packaging, hygiene components and release liners. Core competencies include extruding, printing, coating as well as refining or processing of high-quality films. Consumer Packaging is also a leading supplier of silicone-coated and speciality release liners. The products manufactured by Mondi Consumer Packaging are used in a wide variety of areas with one main focus being fast moving consumer goods (FMCG). \
The transaction is expected to be complete by the fourth quarter of 2015.
Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products. The business operates from one site based in Aschersleben, Germany. A key supplier of nonwovens for diaper elastic laminates to Mondi, Ascania's business will be integrated into Mondi’s Consumer Packaging Business Unit. For the twelve months ended May 31, 2015, Ascania generated unaudited revenues of €53 million and employed about 150 people
Commenting on the acquisition, David Hathorn, CEO of Mondi Group, says: “This acquisition supports the development of our Consumer Packaging business. It will strengthen Mondi’s position as the preferred supplier of hygiene components such as elastic laminates for diapers and enable further growth with innovative products for baby diapers and adult incontinence, femcare and medical applications."
Mondi Consumer Packaging is a globally operating manufacturer of consumer packaging, hygiene components and release liners. Core competencies include extruding, printing, coating as well as refining or processing of high-quality films. Consumer Packaging is also a leading supplier of silicone-coated and speciality release liners. The products manufactured by Mondi Consumer Packaging are used in a wide variety of areas with one main focus being fast moving consumer goods (FMCG). \
The transaction is expected to be complete by the fourth quarter of 2015.