Mondi buys UK food packager Excelsior for £33m

Packaging and paper firm Mondi on Monday said it had bought Excelsior Technologies Limited from funds managed by Endless LLP and certain other minority shareholders, for £33m (€38m), on a debt and cash-free basis.

Excelsior makes “innovative flexible packaging solutions, mainly for food applications, with a unique packaging technology for microwave steam cooking”, Mondi said in a statement.

With two plants, located in Deeside, northern Wales, and Nelson in Lancashire the company serves both domestic and US customers. For the year ended 31 December 2016, Excelsior generated revenues of £39m, Mondi added.