Mondi (Johannesburg / South Africa; www.mondigroup.com) bought UK consumer packaging group Excelsior Technologies for GBP 33m (EUR 38m) from funds managed by private equity firm Endless LLP and certain minority shareholders. Mondi Europe & International CEO Peter J. Oswald said the acquisition will support Mondi's strategy to further grow its consumer packaging business. Excelsior, a vertically-integrated producer of flexible packaging solutions, has a unique packaging technology for microwave steam cooking, Mondi said. Its products include pouches, roll stock and lidding films.

Excelsior has two UK plants in Deeside, northern Wales, and Nelson, Lancashire.

Mondi, which operates in more than 30 countries, said it expected global growth in flexible packaging solutions for food, driven mainly by rising demand for products with longer shelf life, an increasing focus on end-consumer convenience as well as trends to boost brand names and sustainability.

Last year, it bought Turkish packaging producer Kalenobel and Russia’s Uralplastic-N. In addition, Mondi is investing EUR 20m to expand its plant in Korneuburg / Austria (see Plasteurope.com of 08.06.2016, 14.07.2016 and 19.10.2016).