Mayr-Melnhof Packaging Offers to Acquire French Specialty Packaging Company
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Mayr-Meinhof Packaging, Austria, has made an offer to acquire the folding carton operations of Ileos SA, France, owned by funds of Oaktree Capital Management L.P. Ileos has five sites producing folding cartons for the pharmaceutical industry and two sites producing folding cartons for luxury articles and cosmetics. All sites are located in France.
Ileos’ 2014 sales amounted to approximately EUR115 million; about 26,000 metric tons of cartonboard, and 6,000 metric tons of paper were converted. The proposed purchase price will amount to approximately EUR 80 million. The transaction will be subject to customary closing conditions.
Mayr-Melnhof Packaging, the region's largest manufacturer of folding cartons, is now focusing on growing a presence outside of central Europe.
