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Mondi Group to acquire German nonwovens producer

Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products.

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By: Greg Hrinya

Editor, Label & Narrow Web

Mondi Group has signed an agreement to acquire 100% of the outstanding share capital of Ascania nonwoven Germany GmbH, a private equity investment group from Schloss Neugattersleben Group.

Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products. The business operates from one site based in Aschersleben, Germany. The company is also a key supplier of nonwovens for diaper elastic laminates to Mondi. The business employs around 150 people and will be integrated into Mondi’s Consumer Packaging Business Unit. For the twelve months ended May 31, 2015, Ascania generated unaudited revenues of 53 million Euro.

“This acquisition supports the development of our Consumer Packaging business,” explains David Hathorn, chief executive of Mondi Group. “It will strengthen Mondi’s position as the preferred supplier of hygiene components, such as elastic laminates for diapers, and enable further growth with innovative products for baby diapers, adult incontinence, femcare and medical applications.”

The transaction remains subject to competition clearance and is expected to complete by the fourth quarter of 2015.

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