Essentra buys pharmaceutical packaging assets

Essentra has agreed to buy the pharmaceutical packaging assets of Kamsri Printing & Packaging for an undisclosed sum.

The plastics company said the deal, which is expected to complete by the end of the year, will be immediately earnings-enhancing and will be reported under the Health & Personal Care Packaging Strategic Business unit.

Kamsri, which is based in Bangalore, manufacture packaging solutions for the pharmaceutical and healthcare end-markets in India.

Chief executive Colin Day said: "The acquisition of Kamsri is a compelling strategic fit for Essentra, and is consistent with the company's objective of supplementing balanced, profitable organic growth with value-adding transactions in its targeted end-markets.

“Indeed, with its highly complementary product range, Kamsri provides Essentra with an entry point into the attractive pharmaceutical and healthcare industries in India, thereby reinforcing our global packaging capabilities and enhancing the opportunities for our customers."