Clariant’s existing portfolio of packaging solutions. Clariant says that it has signed a purchase agreement to acquire healthcare packaging company VitaPac (Hong Kong). Financial details of the deal were not disclosed. VitaPac, which was founded in 1995, generated sales of about 4 million Swiss francs ($4.2 million) in 2013. VitaPac employs about 80 people and has a production site at Dongguan, China. VitaPac develops and manufactures a full range of protective packaging solutions for the pharmaceutical, neutraceutical and food industries, as well as for the logistics and electronics sectors, mainly in the Asia/Pacific region. The company focuses on active sorbents and has established a leading market position for desiccant packets for moisture adsorption, Clariant says. The transaction is subject to regulatory approvals and is expected to be completed in the fourth quarter of 2014.
The bolt-on acquisition of VitaPac complements the portfolio of Clariant’s medical specialties business line within its masterbatches business unit. The deal will help Clariant to gain market share in important emerging markets especially in Asia but also to capture further sales in other regions. The acquired Dongguan plant will enlarge Clariant’s global footprint, furthering the reach to its multinational pharmaceutical customer base, the company says.
“The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets,” says Hariolf Kottmann, CEO of Clariant. “It will enable us to enhance Clariant’s existing portfolio of packaging solutions with new innovative products from the active packaging area, helping us to further develop our positioning in the medical specialties market,” Kottmann says.
VitaPac is known for its innovative, technology-driven product lines that address pharmaceutical stability and shelf life, Clariant says. The company maintains a drug master file (DMF) with the US FDA, and its products comply with all pertinent regulations for use in direct contact with food and drugs, Clariant says.
By Deepti Ramesh