Swiss Clariant to buy Hong Kong-based healthcare packaging firm

Pearl Bantillo

29-Sep-2014

Clariant officeSINGAPORE (ICIS)–Clariant has signed an agreement to buy Hong Kong-based healthcare packaging firm VitaPac for an undisclosed amount, the Swiss specialty chemicals firm said on Monday.

VitaPac, which has a production site in Dongguan, China, and has 80 employees, generated Swiss francs (Swfr) 4.0m ($4.2m) in consolidated sales last year, Clariant said in a statement.

“The transaction is expected to be completed by the end of the fourth quarter of 2014 and subject to regulatory approvals,” the company said.

VitaPac, which was founded in 1995, develops and manufactures a full range of high quality protective packaging solutions for the pharmaceutical, neutraceutical and food industries, as well as for the logistics and electronics sectors, mainly for the Asia-Pacific (APAC) region.

It focuses on active sorbents and has built up a leading market position for desiccant packets for moisture adsorption.

“The bolt-on acquisition of VitaPac complements the portfolio of Clariant’s business line medical specialties within its business unit masterbatches,” Clariant said.

The deal is expected to boost Clariant’s market share in the emerging markets, especially in Asia.

“The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets,” said Clariant CEO Hariolf Kottmann in the statement.

($1 = Swfr0.95)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections

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