Clariant announced on its website that it has agreed to sell its medical packaging business to a subsidiary of Arsenal Capital Partners for 308 million Swiss francs (US $ 313.59 million).
Clariant Medical Packaging produces a range of products, such as customizable embedded products, including vials and cans, integrated desiccant systems and plastic bottles containing oxygen barrier materials. These packaging solutions are designed to protect pharmaceutical products from moisture and oxygen.
Clariant's medical packaging division has production facilities in the United States, France, China and India and employs approximately 600 people. Clariant's medical packaging business had sales of CHF 135 million (US $ 137.4 million) in 2018.
At present, according to the practice and approval, this transaction is expected to close at the end of the year.
Clariant has not revealed the reasons for selling its medical packaging business.
The acquirer, Arsenal Capital Partners, is a leading private equity firm established in 2000 and headquartered in New York, USA. The company specializes in investments in special industries and healthcare.