Bemis Co. Inc. recently announced that it is taking over SteriPack Group’s medical device packaging operations, in exchange for its contract manufacturing business.
The transaction comprises Clara, Island’s manufacturing plant and employees along with the packaging business. The deal also envelopes the converting assets at SteriPack sites in Florida’s Lakeland, and Malaysia’s Klang.
The procurement is likely to be through April 29 this year, and will come out to be “modestly accretive” to per-share-earnings in 2016.
“This acquisition supports Bemis’ strategy to grow our healthcare packaging business. SteriPack’s strong customer relationships and modern clean room operations will complement our new and expanding global health care operations,” said William Austen, CEO, Bemis Co.
According to SteriPack, they will keep the contract manufacturing service business at Florida, Malaysia and Jelcz-Laskowice, Poland sites.
Complete details of the deal have not been unveiled. However, Bemis stated that the acquisition included operations with net sales of around $65 million in the fiscal year 2015.
Garry Moore, SteriPack founder and CEO, affirmed, “We look forward to focusing on the development of our contract manufacturing business across the globe.”