AptarGroup Inc. (NYSE: ATR) is acquiring dispensing system maker Mega Airless for $218 million. The buyer is funding the purchase with a combination of cash and debt.
Mega Airless, based Villingen-Schwenningen, Germany, makes plastic dispensers and pumps that are used in beauty, personal care and health care products. The target is expecting to post 2015 revenue of about $66 million. AptarGroup, located in Crystal Lake, Illinois, produces dispensers and sprays for the food and beverage, beauty and pharmaceutical industries.
“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,” says AptarGroup CEO Steve Hagge.