Essentra plc (Essentra), an UK based FTSE 250 company and a leading global provider of essential components and solutions, has signed an agreement to acquire assets of Bengaluru based pharmaceutical packaging company, Kamsri Printing & Packaging Pvt. Ltd. (Kamsri), for an undisclosed consideration. Funded from Essentra’s existing facilities, the transaction is expected complete by end 2015.
Kamsri is a leading manufacturer of premium packaging solutions for the pharmaceutical and healthcare end markets in India. The transaction will be immediately earnings enhancing to Essentra, and will be reported under the health & personal care packaging strategic business unit.
Commenting on the announcement, Colin Day, chief executive, stated, “The acquisition of Kamsri is a compelling strategic fit for Essentra, and is consistent with the company’s objective of supplementing balanced, profitable organic growth with value adding transactions in its targeted end markets. Indeed, with its highly complementary product range, Kamsri provides Essentra with an entry point into the attractive pharmaceutical and healthcare industries in India, thereby reinforcing our global packaging capabilities and enhancing the opportunities for our customers.”
Headquartered in the United Kingdom, Essentra’s global net work extends to 33 countries and includes 9,000 employees, 69 principal manufacturing facilities, 64 sales & distribution operations and 5 research & development centres.