# Essentra plc announce acquisition of Nekicesa Packaging S.L.

- Link: https://www.directorstalkinterviews.com/essentra-plc-announce-acquisition-of-nekicesa-packaging-s-l/412792291
- Published: 2019-09-09T07:36:21+01:00
- Author: Amilia Stone

**Essentra PLC** (LON:ESNT) today announced it has acquired 100% of the share capital
of Nekicesa Packaging S.L. from GED Iberian B, F.C.R. and EBN Vaccaria, F.C.R. for
an undisclosed cash consideration.

With two well-invested facilities in Madrid, Nekicesa is one of the leading converters
of folding cartons supplying the pharmaceutical end-market in Spain and will be 
reported under the Packaging division.  The acquisition of Nekicesa adds manufacturing
capacity and value-added service capability to the existing site footprint in Barcelona,
thereby giving Essentra a presence in both pharmaceutical hubs in Spain and establishing
the Company as a leading player with the potential for multi-product capability 
in this attractive packaging market.

Nekicesa has been acquired on a cash-free, debt-free basis, funded from existing
facilities, and the transaction will be immediately earnings enhancing to the Company.

> **Commenting on today’s announcement, Paul Forman, Chief Executive said**:
> “The acquisition of Nekicesa is indicative of the value-creating acquisition opportunities
> which are available to us now that our Packaging division has successfully been
> stabilised.  With a proven track record of profitable growth under an experienced
> management team, Nekicesa is a great fit with our own business in Barcelona as
> we continue to focus on our strategic objective of being the leading dedicated
> supplier of specialist secondary packaging and value-added services to the global
> pharmaceutical, personal care and beauty industry.  I would like to welcome all
> at Nekicesa to Essentra and wish them every success.”** **

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