Packaging supplier Bemis buying medical business from SteriPack Group
Flexible and rigid packaging supplier Bemis Company Inc. is buying the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications.
The acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the U.S. state of Florida. SteriPack Group – which reported annual net sales of approximately US$65 million in fiscal 2015 – will continue to independently own and operate its contract manufacturing services business.
The financial details of the transaction were not disclosed. The deal is expected to close on April 29, 2016.
“SteriPack’s strong customer relationships and modern cleanroom operations will complement our new and expanding global healthcare operations and will increase our capacity to meet the needs of the growing healthcare industry,” William Austen, president and CEO of Bemis, said in a statement. “We expect this acquisition to be modestly accretive to earnings per share in 2016.”
Bemis is headquartered in Neenah, Wis., and employs approximately 17,500 people worldwide.