Former footballer Danny Mills makes significant return on sale of Deeside based firm
Former Premier League and England footballer turned pundit Danny Mills is amongst a group of investors who have made a significant return on the sale of a Deeside based business.
Yorkshire based private equity investor Enact has sold investment, Excelsior Technologies to international packaging and paper group Mondi PLC.
Enact, which counts Mills a former Leeds United and Manchester City defender as a client has made a nine-fold return on the Deeside Industrial Park packaging business, the deal is reported to be worth £32.9m
Excelsior which generated revenue of £39m in 2016 makes packaging, mainly for food, and owns a packaging technology for microwave steam cooking.
Mondi has operations in more than 30 countries, it makes and sells consumer packaging and paper products.
In a statement on Excelsior’s website the Executive Chairman Keith Chapman said:
“I am delighted that we have found a partner that is a good fit with Excelsior’s existing business strengths whether it is from a product, sales organisation or manufacturing operations perspective.”
He added “We have a very strong and established customer base who are going to enjoy the added benefits that Mondi’s investment and expertise will bring.”
Excelsior has a unique packaging technology for microwave steam cooking and its product portfolio also includes pouches, roll stock and lidding films.
Commenting on the acquisition, Peter J Oswald, CEO Mondi Europe & International, says:
“We want to delight our customers with innovative and sustainable solutions and this acquisition allows us to offer a broader and complementary range of consumer packaging products for food applications.”
Global demand for food flexible packaging solutions is expected to continue growing the statement says. Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email: News@Deeside.com