AptarGroup to Acquire Mega Airless, a Leading Airless Systems Innovator
January 25 2016 - 5:00PM
Business Wire
AptarGroup, Inc. (NYSE: ATR) today announced it has signed an
agreement to acquire Mega Airless, a leading provider of innovative
airless dispensing systems for the beauty, personal care and
pharmaceutical markets. This strategic acquisition adds
complementary products and market coverage to AptarGroup’s existing
diversified portfolio of business.
Under the terms of the agreement, AptarGroup will acquire Mega
Airless for an enterprise value of approximately €200 million ($218
million). The purchase will be funded with available cash on hand
in Europe and an existing revolving credit facility. The
transaction is subject to customary regulatory approvals and is
expected to close in the first quarter of this year. Mega Airless
has over 30 years of experience and has grown to become a leader in
airless dispensing technology with two manufacturing facilities in
Germany and one in the United States. Mega Airless’ projected
annual revenues for 2015 are approximately €61 million
(approximately $66 million) and the company has achieved EBITDA
(earnings before interest, taxes, depreciation and amortization)
margins in excess of 30% over the past three years.
Commenting on the transaction, Steve Hagge, President and CEO
said, “We are very pleased to announce this strategic acquisition
which aligns with our disciplined approach of acquiring
well-managed, profitable businesses with innovative technology.
Their products and the markets they serve are complementary to our
own and we see significant opportunities to leverage AptarGroup’s
global network to grow this business. Today, dermal applications
are growing and evolving. Regulatory agencies in the prescription
and over-the-counter pharmaceutical markets, and customers in the
beauty and personal care markets, are seeking better ways to
control dosing and preserve formulations across a variety of
products. This transaction will enable us to shape the future of
airless solutions.”
AptarGroup will hold a conference call tomorrow, January 26,
2016, at 8:00 a.m. Central Time to discuss this transaction.
Interested parties are invited to listen to a live webcast and
download presentation materials by visiting the Investor Relations
page at www.aptar.com. Replay of the conference call can also be
accessed on the Investor Relations page of the web site.
AptarGroup, Inc. is a leading global supplier of a broad range
of innovative dispensing solutions for the beauty, personal care,
home care, prescription drug, consumer health care, injectables,
food, and beverage markets. AptarGroup is headquartered in Crystal
Lake, Illinois, with manufacturing facilities in North America,
Europe, Asia and South America. For more information, visit
www.aptar.com.
This press release contains forward-looking statements. Words
such as “expects,” “anticipates,” “believes,” “estimates,” “future”
and other similar expressions or future or conditional verbs such
as “will,” “should,” “would” and “could” are intended to identify
such forward-looking statements. Forward-looking statements are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 and are based on management’s beliefs as well as
assumptions made by and information currently available to
management. Accordingly, AptarGroup’s actual results may differ
materially from those expressed or implied in such forward-looking
statements due to known or unknown risks and uncertainties that
exist including, but not limited to, the ability to complete the
Mega Airless acquisition; economic conditions worldwide as well as
potential deflationary conditions in regions we rely on for growth;
political conditions worldwide; significant fluctuations in foreign
currency exchange rates; changes in customer and/or consumer
spending levels; financial conditions of customers and suppliers;
consolidations within our customer or supplier bases; fluctuations
in the cost of raw materials, components and other input costs; the
availability of raw materials and components; our ability to
increase prices, contain costs and improve productivity; changes in
capital availability or cost, including interest rate fluctuations;
volatility of global credit markets; cybersecurity threats that
could impact our networks and reporting systems; fiscal and
monetary policies and other regulations, including changes in tax
rates; direct or indirect consequences of acts of war or terrorism;
work stoppages due to labor disputes; and competition, including
technological advances. For additional information on these and
other risks and uncertainties, please see AptarGroup’s filings with
the Securities and Exchange Commission, including its Form 10-Ks
and Form 10-Qs. AptarGroup undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160125006489/en/
AptarGroup, Inc.Matthew DellaMaria815-477-0424
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