Swiss supplier of specialty chemicals Clariant (Muttenz) has signed an agreement to purchase Chinese healthcare packaging company VitaPac (Hong Kong) for an undisclosed amount. The owner-led company with 80 employees operates a production site in Dongguan, China, and had consolidated sales of about 4 million Swiss francs ($4.2 million) in 2013. The transaction is expected to be completed by the end of Q4 2014, subject to regulatory approvals.
Founded in 1995, VitaPak develops and manufactures a 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 built up a leading market position for desiccant packets for moisture adsorption.
VitaPac maintains a Drug Master File (DMF) with FDA, and its products comply with all pertinent regulations for use in direct contact with food and drugs.
The bolt-on acquisition of VitaPac complements the portfolio of Clariant's Business Line Medical Specialties within its Business Unit Masterbatches, according to a news release issued by the company today. The agreement will help Clariant to gain increased 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.
Hariolf Kottmann, CEO of Clariant, comments: "The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets. 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."