After separating from its fine chemicals division (Baikowski) and having sold its food packaging business (CGL Pack), PSB Industries continues to refocus on its cosmetic packaging activity (Texen).
The group has announced it has entered into exclusive negotiations with Clayens NP group with a view to the sale of its plastics, Healthcare & Industry division (Plastibell), with the exception of one American and one French site.
The scope concerned achieved worldwide sales around 60 million euros in 2019, and a negative operating result (EBIT) of (-0.9 million euros). With five industrial sites in France, Mexico and Poland, and an R&D center in France, it employs nearly 700 people.
The Clayens NP group (formerly Sintex NP) achieved sales of EUR 279 million in 2019. It employs 2,700 people in 17 industrial sites in France, Germany, Hungary, Poland, Slovakia, Morocco and Tunisia. It has been held since October 2019 by a pool of French investors, led by Siparex, and its management.
“The planned transaction would constitute a new major strategic step in the redeployment and strengthening of PSB Industries around the Luxury & Beauty business which began in 2017,” explains the group in a statement.
The financial details of the proposed transaction have not been disclosed, however PSB Industries said the acquisition would be structured with a part paid in cash and a part settled in securities, thus allowing the group “to remain a partner, while having additional resources at the service of the worldwide development of the Luxury & Beauty business.”
Earlier this year, PSB Industries announced its intention to take over Qualipac, the plastics and metals division of the Pochet group, before abandoning the operation in April, citing the impact of the Covid-19 pandemic on the global economy.