Essentra Packaging is now part of the Austrian Mayr-Melnhof Group (MM). Announced last June, the acquisition of the division of the British company Essentra has just been finalized, following approval by the relevant competition authorities.
MM, which employs about 13âeuros000 people and has sales of 3.0 billion euros in 2021, is expanding by 21 manufacturing sites in 10 countries in Europe, the United States and Puerto Rico and by 3âeuros500 employees. Essentra Packaging has forecast sales of approximately £370 million (approx. 410 million euros) for 2021.
With the acquisition of Essentra Packaging, which had a turnover of £370 million (approx. 410 million euros), MM Packaging expands its range of folding cartons, package inserts and labels for the healthcare and pharmaceutical market and completes its geographical position in the world, which until now has been located in France and Scandinavia.
Peter Oswald, CEO of MM Group, explains: "Essentra Packaging is a game changer and positions MM as a global player in the pharmaceutical secondary packaging space. It will also bring more innovation and investment in sustainability. We have identified interesting potential for synergies and value increases, which we will use in the integration. Together with the Essentra Packaging team, we are well positioned to shape the future of pharmaceutical packaging."
MM consists of two divisions, MM Board & Paper and MM Packaging.
MM Board & Paper manufactures paperboard, mainly coated paperboard from recycled fibers and paperboard from virgin fibers.
MM Packaging converts cardboard into folding cartons. Half of its turnover is with the food, household products, toys and specialty packaging industries, and the other half with the cosmetics, health products, pharmaceutical and cigarette industries. In 2021, MM Packaging achieved a turnover of 1.641,6 million Euros.
