Clariant International Ltd. is buying VitaPac (HK) Industrial Ltd., a Hong Kong-based company which produces desiccant packets for the healthcare packaging market.
VitaPac has a production site in Dongguan, China. The owner-led company has 80 employees and its consolidated sales were about 4 million Swiss francs ($4.2 million) in 2013, said Clariant, which did not reveal the purchase price for VitaPac.
VitaPac's products include a dessicant pack integrated into plastic caps. The acquisition will complement Muttenz, Swizerland-based Clariant's product range in Asia and allow it to extend its reach to the multinationial pharmaceutical customer base, said CEO Hariolf Kottmann.
“The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets,” he said.
The acquisition is subject to regulatory approvals and is expected to be completed by the end of the fourth quarter of 2014.