AptarGroup buying packaging maker CSP Technologies for $555 million
Auburn, Ala.-based CSP makes protective packaging such as blister packaging, vials, films, bottles, and closures, and has manufacturing sites in Alabama, Georgia, and in Neiderbronn, France.
U.S.-based packaging, dispensing, and sealing solutions firm AptarGroup Inc. is purchasing specialty plastic packaging provider CSP Technologies for US$555 million.
Established in 1965, CSP is currently owned by French investment group Wendel, who acquired the company in 2015 and financed its acquisition of Maxwell Chase in 2016. The Auburn, Ala.-based company makes protective packaging such as blister packaging, vials, films, bottles, and closures. It has manufacturing sites in Alabama, Georgia, and in Neiderbronn, France.
“This strategic transaction meets our disciplined criteria for acquiring companies with strong positions in attractive markets, proprietary technologies, solid margins and robust growth fundamentals,” Aptar CEO Stephan Tanda said in a statement. “Similar to Aptar, CSP Technologies has an innovative culture with intellectual property that drives product development and enables highly engineered solutions, including their three-phase polymer technology.”
Aptar is planning to grow the existing business in the pharma and food safety markets, Tanda continued, and make use of CSP Technologies’ active packaging and material science expertise in other end markets.
The deal is expected to close in late 2018.