JSE- and LSE-listed Mondi has acquired packaging producer Excelsior Technologies for £33-million.
Excelsior is a vertically integrated producer of flexible packaging solutions, mainly for food applications, with a unique packaging technology for microwave steam cooking. It supplies customers in the UK and the US.
It has two plants, one in Deeside, in Northern Wales, and the other in Nelson, Lancashire, in England.
“The acquisition of Excelsior supports the development of our consumer packaging business in high-growth product applications. Its microwave steam cooking packaging technology complements and enhances our global food packaging offering,” Mondi CEO David Hathorn said in a statement on Monday.