Excelsior Group, a supplier of flexible plastic packaging, has been bought by Mondi Group for £33 million.
Excelsior makes food packaging using a unique technology for microwavable steam cooking at two plants in Deeside, Flintshire and Nelson, Lancashire.
Keith Chapman, Excelsior Technologies Chairman, said: “I am delighted that we have found a partner that is a good fit with Excelsior’s existing business strengths, whether it is from a product, sales organisation or manufacturing operations perspective. We have a very strong customer base who are going to enjoy the added benefits that Mondi’s investment and expertise will bring.”
David Hathorn, Mondi Group CEO, said: “The acquisition of Excelsior supports the development of our Consumer Packaging business in high growth product applications. Its leading microwave steam cooking packaging technology complements and enhances our global food packaging offering.”
Mondi, based in Johannesburg, South Africa, demerged from Anglo American ten years ago. It acquired packaging company Nordenia in 2012 and became dual-listed on the Johannesburg and London stock exchanges. With European headquarters in Vienna it manages a fully integrated packaging chain, with over 100 packaging products.
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