Dispensing systems manufacturer AptarGroup (Crystal Lake, Illinois / USA; www.aptargroup.com) is to acquire Stelmi (Villepinte, Seine-Saint-Denis / France; www.stelmi.com), a producer of elastomer primary packaging components for injectable drug delivery, for around EUR 165m in cash. The deal is expected to close in the third quarter of 2012.

Stelmi was established in 1964 and operates two manufacturing plants in France – in the Normandy region, close to Aptar’s existing pharma facilities, and a research and development centre near Paris. The company had revenues of around EUR 83m in 2011, with operating margins in the range of 21% to 25% over the past three years.

Steve Hagge, Aptar president and CEO said: “With this transaction, we are entering a new area which is primary packaging components used in the injectable drug delivery market. There is proprietary know-how in the formulation and manufacturing process surrounding elastomer primary packaging components for pharmaceutical applications. With the strong innovation cultures of both companies, and potential to leverage Aptar’s broad geographic presence and commercial strength, we are excited about the growth potential for Stelmi.”