MMP bids EUR80m for French pharma packaging firm Ileos
Mayr-Melnhof Packaging has bid €80m ($91m) for the carton folding operations of Ileos SA, a private equity owned pharmaceutical and cosmetics packaging sector services firm.
If accepted the proposed deal would see Austria-based supplier MM P take control of seven manufacturing sites in France, seven of which produce cardboard boxes for customers in the pharmaceutical sector.
Ileos SA is owned by private equity investor Oaktree Capital Management LP, which acquired the firm in 2011.
According to the French firm's website its drug industry customer include Sanofi, Bristol Myers-Squibb (B-MS) and contract manufacturing organisation Delpharm.
