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Terms of the transaction were not disclosed, and closing is subject to receipt of regulatory approval.
In addition, at closing Clondalkin and Catalent will enter into a long-term supply agreement which ensures that Catalent will continue to be able to provide customers of its market-leading commercial packaging business with high-quality printed components.
With annual sales in excess of $100 million (•‚¬75 million), Printed Components manufactures secondary packaging products for the pharmaceutical and healthcare markets at four production locations in the United States, Puerto Rico and Ireland.
Clondalkin, headquartered in Amsterdam, The Netherlands, is an international producer of flexible and specialist packaging products with annual sales in excess of $1.1 billion (•‚¬850 million) and over 40 production locations in 10 countries throughout Europe and the United States of America. Clondalkin is a leading supplier of secondary packaging products to the pharmaceutical and healthcare markets with 14 pharmaceutical packaging approved production plants in Europe and North America.
Barry Russell, President of Catalent's Medication Delivery Solutions business, said, “We are pleased that Clondalkin Group has agreed to acquire the business. We believe that Clondalkin will continue to build upon the business' legacy of excellent service and high quality. We also believe the commitment Clondalkin Group has demonstrated to the industry aligns well with our approach of tailoring unique product supply solutions for our customers.”
Norbert McDermott, Clondalkin Group's Chief Executive, said: “We are looking forward to acquiring Catalent's Printed Components business and developing our supply partnership with Catalent.
“Our focus in pharmaceutical and healthcare secondary packaging is to deliver market leading innovative products and services to our customers. The acquisition takes our customer service offering to a new level of unrivalled capabilities and possibilities in location, technology and product choices.
“Over the past five years, we have been the most significant investor in this market. Catalent's Printed Components business provides important capabilities that are valued by pharmaceutical and healthcare customers and are an excellent strategic fit in complementing Clondalkin's products and services.
“In the United States, the acquisition further expands our leading position offering full-service dedicated pharmaceutical and healthcare production facilities at nine locations in North Carolina, New Jersey, Indiana, Connecticut and Puerto Rico.
“In Europe, combining Catalent's cartons expertise with our inserts, leaflets and labels expertise presents excellent business development and cross-selling opportunities for our nine pharmaceutical and healthcare production facilities in Ireland, Spain, the United Kingdom and Poland.
“The acquisition enhances Clondalkin's portfolio focus on high value-added products and services - and will increase our pharmaceutical and healthcare activities to approximately $340 million (•‚¬257 million) and to 28% of our annual sales.
“By continuously developing our existing operations and by acquiring well-established complementary businesses, Clondalkin has successfully developed its leadership positions in several segments of the packaging industry. In addition to our pharmaceutical and healthcare specialisation, we have strong positions in food and beverage accounting for 26% of annual sales and in fast-moving-consumer-goods, industrial, services and agricultural / horticultural markets which each account for between 8% and 16% of annual sales.
“We are looking forward to welcoming the Printed Components business and employees into Clondalkin Group and to delivering the full potential that the combined businesses offer to our existing and new customers.”
In addition, at closing Clondalkin and Catalent will enter into a long-term supply agreement which ensures that Catalent will continue to be able to provide customers of its market-leading commercial packaging business with high-quality printed components.
With annual sales in excess of $100 million (•‚¬75 million), Printed Components manufactures secondary packaging products for the pharmaceutical and healthcare markets at four production locations in the United States, Puerto Rico and Ireland.
Clondalkin, headquartered in Amsterdam, The Netherlands, is an international producer of flexible and specialist packaging products with annual sales in excess of $1.1 billion (•‚¬850 million) and over 40 production locations in 10 countries throughout Europe and the United States of America. Clondalkin is a leading supplier of secondary packaging products to the pharmaceutical and healthcare markets with 14 pharmaceutical packaging approved production plants in Europe and North America.
Barry Russell, President of Catalent's Medication Delivery Solutions business, said, “We are pleased that Clondalkin Group has agreed to acquire the business. We believe that Clondalkin will continue to build upon the business' legacy of excellent service and high quality. We also believe the commitment Clondalkin Group has demonstrated to the industry aligns well with our approach of tailoring unique product supply solutions for our customers.”
Norbert McDermott, Clondalkin Group's Chief Executive, said: “We are looking forward to acquiring Catalent's Printed Components business and developing our supply partnership with Catalent.
“Our focus in pharmaceutical and healthcare secondary packaging is to deliver market leading innovative products and services to our customers. The acquisition takes our customer service offering to a new level of unrivalled capabilities and possibilities in location, technology and product choices.
“Over the past five years, we have been the most significant investor in this market. Catalent's Printed Components business provides important capabilities that are valued by pharmaceutical and healthcare customers and are an excellent strategic fit in complementing Clondalkin's products and services.
“In the United States, the acquisition further expands our leading position offering full-service dedicated pharmaceutical and healthcare production facilities at nine locations in North Carolina, New Jersey, Indiana, Connecticut and Puerto Rico.
“In Europe, combining Catalent's cartons expertise with our inserts, leaflets and labels expertise presents excellent business development and cross-selling opportunities for our nine pharmaceutical and healthcare production facilities in Ireland, Spain, the United Kingdom and Poland.
“The acquisition enhances Clondalkin's portfolio focus on high value-added products and services - and will increase our pharmaceutical and healthcare activities to approximately $340 million (•‚¬257 million) and to 28% of our annual sales.
“By continuously developing our existing operations and by acquiring well-established complementary businesses, Clondalkin has successfully developed its leadership positions in several segments of the packaging industry. In addition to our pharmaceutical and healthcare specialisation, we have strong positions in food and beverage accounting for 26% of annual sales and in fast-moving-consumer-goods, industrial, services and agricultural / horticultural markets which each account for between 8% and 16% of annual sales.
“We are looking forward to welcoming the Printed Components business and employees into Clondalkin Group and to delivering the full potential that the combined businesses offer to our existing and new customers.”
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