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Essentra Buys Spain-based Nekicesa Packaging For Undisclosed Terms - Quick Facts

Essentra plc. (ESNT.L), a supplier of plastic and fibre products, announced Monday that it has acquired Nekicesa Packaging S.L. from GED Iberian B, F.C.R. and EBN Vaccaria, F.C.R. for an undisclosed cash consideration.

Nekicesa has been acquired on a cash-free, debt-free basis, funded from existing facilities. Essentra expects the transaction to be immediately earnings enhancing. Nekicesa will now be reported under the Packaging division.

Nekicesa has two facilities in Madrid. The acquisition of Nekicesa adds manufacturing capacity and value-added service capability to the existing site footprint in Barcelona.

Paul Forman, Chief Executive said, "With a proven track record of profitable growth under an experienced management team, Nekicesa is a great fit with our own business in Barcelona as we continue to focus on our strategic objective of being the leading dedicated supplier of specialist secondary packaging and value-added services to the global pharmaceutical, personal care and beauty industry."

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