Clariant has signed an agreement with respect to the sale of its Healthcare Packaging business to a newly-formed affiliate of Arsenal Capital Partners. The total consideration of the sale amounts to approximately CHF 308 million payable at closing, which is expected in Q4 2019. The total consideration is equivalent to 13.2 times adjusted FY2018 EBITDA. The closing of the transaction is subject to customary conditions and approvals.
Clariant’s Healthcare Packaging business offers products used to protect pharmaceutical products from moisture and oxygen. This includes customizable, high-quality drop-in products (canisters and packets), Integrated Desiccant Systems and specially designed plastic bottles containing oxygen barrier materials. In 2018, the Healthcare Packaging business generated sales of around CHF 135 million. The business has manufacturing facilities in the USA, France, China and India and employs around 600 employees.
By Mary Page Bailey
Source: Chemical Engineering
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