Dispensing systems supplier AptarGroup Inc. expanded its manufacturing footprint and technological position in Europe with the Oct. 4 acquisition of MBF Developpement SAS and related companies.
MBF, based in Oyonnax, France, designs and manufactures decorative packaging components, mainly for the high-end fragrance and cosmetic market. The firm operates four production plants in France, which AptarGroup will keep open and run in coordination with its own manufacturing plants in France, according to Ralph Poltermann, AptarGroup vice president and treasurer.
AptarGroup is gaining technologies from MBF that it will be able to transfer across its markets, Poltermann said by telephone. In addition to advanced injection molding methods, MBF does inlay molding, decorating, vacuum metalization and surface treatments, such as plastic component varnishing.
AptarGroup said the purchase price was about $53 million, including about $43 million in cash and $10 million in assumed debt. MBF was a privately held firm with annual sales of about $52 million.
AptarGroup specializes in dispensing systems for personal-care, fragrance, pharmaceutical, household, and food and beverage markets. The public company is based in Crystal Lake, Ill., and has production facilities in North and South America, Europe and Asia.
AptarGroup recorded sales of $356.1 million and net profit of $29.3 million for its second quarter, ended June 30.