CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE: ATR) today announced that as of May 1, 2018, it has acquired Reboul from Vacheron Industries SAS. Reboul is a French leader in the design and industrial production of high-quality metal components, metal-plastic sub-assemblies, next generation lipstick mechanisms, and complete color cosmetic packaging solutions.
This strategic acquisition brings to Aptar complementary and distinctive capabilities including deep metal drawing, high speed metal stamping, as well as differentiated lipstick mechanism design and manufacturing. The transaction positions Aptar well to capitalize on growth in the color cosmetics market, while further strengthening its ability to serve customers in the skincare and fragrance markets.
Under the terms of the purchase agreement, Aptar will acquire Reboul for an enterprise value of €14 million (approximately $17 million) in cash, less the amount of net debt assumed at the closing date. The agreement also provides an earn-out provision based on the 2018 financial results, which could increase the enterprise value to a maximum of €23 million (approximately $28 million). The purchase will be funded with available cash on hand.
Since 1921, Reboul has been creating packaging for some of the world’s most prestigious color cosmetics brands. In 2017, Reboul became a member of Entreprise du Patrimoine Vivant (EPV), a recognition by the French government that rewards French firms for excellence in their field and industrial know-how. Reboul operates in a state-of-the-art manufacturing facility built according to RT2012 standards to provide optimized energy management. Located near an existing Aptar facility in Annecy, France, Reboul offers close proximity to leaders in the global prestige beauty industry.
Commenting on the transaction, Stephan Tanda, Aptar President and CEO said, “We are excited to announce this strategic acquisition which better positions us to further participate in the attractive growth of the color cosmetics market. This opportunity follows our disciplined approach of acquiring leading, recognized players with innovative technologies and know-how where we can also leverage the breadth of our commercial and manufacturing networks. The combination of Aptar’s scale and Reboul’s distinctive capabilities is compelling, and it will enable us to further expand our distinctive solutions to customers worldwide. We welcome Reboul’s excellent and experienced team to Aptar and look forward to building upon their success together to create a global leader in color cosmetics packaging solutions.”
Aptar is a leading global supplier of a broad range of innovative dispensing solutions for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food, and beverage markets. Aptar is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia, and South America. For more information, visit www.aptar.com.
This press release contains forward-looking statements. Words such as “opportunity,” “look forward,” “further” and “positions” and other similar expressions or future or conditional verbs such as “will” and “could” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to, our ability to integrate acquired businesses; the impact of tax reform legislation; the execution of the business transformation; the impact and extent of contamination found at the Company’s facility in Brazil; economic conditions worldwide including potential deflationary conditions in regions we rely on for growth; political conditions worldwide; significant fluctuations in foreign currency exchange rates or our effective tax rate; changes in customer and/or consumer spending levels; financial conditions of customers and suppliers; consolidations within our customer or supplier bases; fluctuations in the cost of materials, components and other input costs; the availability of raw materials and components; our ability to successfully implement facility expansions and new facility projects; our ability to increase prices, contain costs and improve productivity; changes in capital availability or cost, including interest rate fluctuations; volatility of global credit markets; cybersecurity threats that could impact our networks and reporting systems; fiscal and monetary policies and other regulations, including changes in tax rates; direct or indirect consequences of acts of war or terrorism; work stoppages due to labor disputes; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.