Bemis to Acquire SteriPack Group
Bemis has announced that it has signed a definitive agreement to acquire the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications.
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 $65 million in 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. The transaction is expected to close at the end of April.
“This acquisition supports Bemis’ strategy to grow our healthcare packaging business,” says William F. Austen, president and CEO of Bemis. “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.”