AptarGroup acquires Mega Airless for $218 million

CRYSTAL LAKE - AptarGroup Inc. said it will acquire Mega Airless, a provider of innovative airless dispensing systems for the beauty, personal care and pharmaceutical markets, for approximately $218 million.

Mega Airless has over 30 years of experience and has grown to become a leader in airless dispensing technology with two manufacturing facilities in Germany and one in the United States. Mega Airless' projected annual revenues for 2015 are approximately €61 million (approximately $66 million).

The acquisition adds complementary products and market coverage to AptarGroup's existing diversified portfolio of business, the company said.

"We are very pleased to announce this strategic acquisition which aligns with our disciplined approach of acquiring well-managed, profitable businesses with innovative technology," said AptarGroup President and CEO Steve Hagge, "Their products and the markets they serve are complementary to our own and we see significant opportunities to leverage AptarGroup's global network to grow this business.

"Today, dermal applications are growing and evolving. Regulatory agencies in the prescription and over-the-counter pharmaceutical markets, and customers in the beauty and personal care markets, are seeking better ways to control dosing and preserve formulations across a variety of products. This transaction will enable us to shape the future of airless solutions," Hagge added.

Under the terms of the agreement, AptarGroup will fund the acquisition through available cash in Europe and an existing revolving credit facility. The transaction is expected to close in the first quarter of this year.