Mondi Group Buys UK-Based Company Excelsior
Mondi Group announced the successful acquisition of Excelsior, a UK consumer packaging company, for GBP 33 million (EUR 38 million) on a debt- and-cash-free basis. Excelsior is a vertically-integrated producer of flexible packaging solutions and the acquisition supports Mondi’s strategy to further grow its consumer packaging business.
Excelsior (registered as Excelsior Technologies Limited) has two production sites that are in Deeside (Northern Wales) and Nelson (Lancashire). The company has a unique packaging technology for microwave steam cooking and its product portfolio also includes pouches, roll stock and lidding films.
Global demand for food flexible packaging solutions is expected to continue growing. This is being driven by increasing demand for extended shelf-life of fresh and prepared food, the focus on end-consumer convenience (such as pre-prepared and on-the-go meal solutions), brand enhancement and sustainability considerations. Excelsior’s leading microwavable steam cooking packaging technology meets these needs and enhances Mondi Consumer Packaging’s global food packaging portfolio.
Mondi Group Europe & International Division
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