MeadWestvaco Corporation has signed a definitive agreement with Comapgnie de Saint-Gobain to acquire Saint-Gobain Calmar, a leading global manufacturer of plastic dispensing and spraying systems, for US$710m (€ 559m) in cash.
The transaction has been approved by MeadWestvaco’s board and is expected to be completed this summer.
MeadWestvaco says Calmar’s strong presence in key US and European markets will help it reach its goal of “achieving global leadership in premium packaging and packaging solutions”. Calmar’s customised pump and spray packing solutions are widely used for personal care, cosmetics and fragrance, pharmaceutical, lawn and garden, home and fabric and automotive products.
“Calmar is led by a proven management team and the company has a history of superior customer service, unrivalled innovation, strong financial and operating performance and market leadership,” says John A Luke, MeadWestvaco chairman and ceo. “This acquisition gives us solid footing in primary packaging, providing an excellent opportunity for MeadWestvaco to deliver a more comprehensive array of valuable packaging solutions to customers worldwide.”
Calmar’s turnover in the last 12 months was around US$420m (€. 331m). Under the deal its management remains in place. Founded in 1946 and a wholly owned Compagnie de Saint-Gobain business unit since 1998, the company is headquartered in Grandview, Missouri, has sites in North America, Europe, Latin America and Asia, generates sales in 43 countries and employs 2,700 staff worldwide.
