DUBLIN, IRELAND - Clondalkin Group plc, the Dublin-based parent firm to Fortune Plastics Inc., is buying a Dutch plastics packaging firm for US$92 million. Clondalkin will pay about $62.2 million in cash and assume about $29.8 million in debt to buy Van der Windt Group, based in Honselerskijk, the Netherlands.
Van der Windt, a flexible packaging unit of Amsterdam-based NV Koninklijke KNP, has manufacturing plants in the Netherlands and Germany. It employs 570.
Van der Windt reported sales of $159.9 million in 1995, and profit of $11.6 million before taxes.
KNP is selling Van der Windt to concentrate on it core paper-making operations.
Clondalkin, a publicly traded firm, now has 27 operating companies in five countries, with flexible packaging operations in Ireland, Britain, the Netherlands and the United States.
Fortune Plastics, based in Old Saybrook, Conn., ranked 57th in Plastics News' 1995 survey of North American film and sheet manufacturers, with estimated sales of US$83.8 million.
Henry Lund, Clondalkin's deputy chairman, said the firm is looking at additional acquisitions in the United States and Europe.