Broadening its medical packaging portfolio in Asia and emerging markets
Specialist chemical company Clariant has agreed to buy VitaPac, a Chinese specialist in healthcare packaging, for an undisclosed sum.
The owner-led company with 80 employees is based in Hong Kong with a production site in Dongguan, China. It had consolidated sales of about CHF4m (€3.3m) in 2013.
VitaPac will complement Clariant’s Medical Specialties portfolio within its Masterbatches business unit.
Clariant said the deal would enable it to gain increased market share in emerging markets, particularly in Asia, while also allowing it to capture further sales in other regions. The acquisition of the Dongguan plant will enlarge Clariant’s global footprint, furthering the reach to its multinational pharmaceutical customer base.
The deal is expected to be completed by the end of the fourth quarter of 2014 and is subject to regulatory approvals.
VitaPac, founded in 1995, manufactures high quality protective packaging for the pharmaceutical, nutraceutical and food industries, as well as for the logistics and electronics sectors, mainly in the region of Asia-Pacific (APAC). The company focuses on active sorbents and has built up a leading market position for desiccant packets for moisture adsorption.
VitaPac is known for its innovative, technology-driven product lines that address pharmaceutical stability and shelf life, Clariant said. The company maintains a Drug Master File (DMF) with the US FDA, and its products comply with all regulations for use in direct contact with pharmaceuticals and food.
Hariolf Kottmann, CEO of Clariant, said: ‘The acquisition of VitaPac will enable us to enhance Clariant’s existing portfolio of packaging solutions with new innovative products from the active packaging area, helping us to further develop our positioning in the medical specialities market.’