Ileos to Sell Folding Cartons Business to MM Packaging
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According to a report this past week by William Reed Business Media, Crawley, U.K., on their Cosmetics Design Europe website, as it looks to increase focus on other product lines, Ileos, Paris, France, will sell its folding carton operations to Mayr-Melnhof Packaging (Vienna, Austria) for EUR $80 million.
Ileos has two sites producing folding cartons for luxury articles and cosmetics, along with five sites producing folding cartons for the pharmaceutical industry. The company had sales that reached EUR $115 million in 2014.
MM Packaging is a coated recycled cartonboard firm with a growing position in virgin fiber board. Ileos will focus on the cosmetics market with metal and plastic products. This transaction will be subject to French customary closing conditions and regulations.
