CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Jan. 25, 2016--
AptarGroup, Inc. (NYSE: ATR) today announced it has signed an agreement
to acquire Mega Airless, a leading provider of innovative airless
dispensing systems for the beauty, personal care and pharmaceutical
markets. This strategic acquisition adds complementary products and
market coverage to AptarGroup’s existing diversified portfolio of
business.
Under the terms of the agreement, AptarGroup will acquire Mega Airless
for an enterprise value of approximately €200 million ($218 million).
The purchase will be funded with available cash on hand in Europe and an
existing revolving credit facility. The transaction is subject to
customary regulatory approvals and is expected to close in the first
quarter of this year. Mega Airless has over 30 years of experience and
has grown to become a leader in airless dispensing technology with two
manufacturing facilities in Germany and one in the United States. Mega
Airless’ projected annual revenues for 2015 are approximately €61
million (approximately $66 million) and the company has achieved EBITDA
(earnings before interest, taxes, depreciation and amortization) margins
in excess of 30% over the past three years.
Commenting on the transaction, Steve Hagge, President and CEO said, “We
are very pleased to announce this strategic acquisition which aligns
with our disciplined approach of acquiring well-managed, profitable
businesses with innovative technology. Their products and the markets
they serve are complementary to our own and we see significant
opportunities to leverage AptarGroup’s global network to grow this
business. Today, dermal applications are growing and evolving.
Regulatory agencies in the prescription and over-the-counter
pharmaceutical markets, and customers in the beauty and personal care
markets, are seeking better ways to control dosing and preserve
formulations across a variety of products. This transaction will enable
us to shape the future of airless solutions.”
AptarGroup will hold a conference call tomorrow, January 26, 2016, at
8:00 a.m. Central Time to discuss this transaction. Interested parties
are invited to listen to a live webcast and download presentation
materials by visiting the Investor Relations page at www.aptar.com.
Replay of the conference call can also be accessed on the Investor
Relations page of the web site.
AptarGroup, Inc. is a leading global supplier of a broad range of
innovative dispensing solutions for the beauty, personal care, home
care, prescription drug, consumer health care, injectables, food, and
beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois,
with manufacturing facilities in North America, Europe, Asia and South
America. For more information, visit www.aptar.com.
This press release contains forward-looking statements. Words such as
“expects,” “anticipates,” “believes,” “estimates,” “future” and other
similar expressions or future or conditional verbs such as “will,”
“should,” “would” and “could” are intended to identify such
forward-looking statements. Forward-looking statements are made pursuant
to the safe harbor provisions of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934 and are
based on management’s beliefs as well as assumptions made by and
information currently available to management. Accordingly, AptarGroup’s
actual results may differ materially from those expressed or implied in
such forward-looking statements due to known or unknown risks and
uncertainties that exist including, but not limited to, the ability to
complete the Mega Airless acquisition; economic conditions worldwide as
well as potential deflationary conditions in regions we rely on for
growth; political conditions worldwide; significant fluctuations in
foreign currency exchange rates; changes in customer and/or consumer
spending levels; financial conditions of customers and suppliers;
consolidations within our customer or supplier bases; fluctuations in
the cost of raw materials, components and other input costs; the
availability of raw materials and components; our ability to increase
prices, contain costs and improve productivity; changes in capital
availability or cost, including interest rate fluctuations; volatility
of global credit markets; cybersecurity threats that could impact our
networks and reporting systems; fiscal and monetary policies and other
regulations, including changes in tax rates; direct or indirect
consequences of acts of war or terrorism; work stoppages due to labor
disputes; and competition, including technological advances. For
additional information on these and other risks and uncertainties,
please see AptarGroup’s filings with the Securities and Exchange
Commission, including its Form 10-Ks and Form 10-Qs. AptarGroup
undertakes no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125006489/en/
Source: AptarGroup, Inc.
AptarGroup, Inc.
Matthew DellaMaria
815-477-0424