Virginia-based MeadWestvaco (MWV) has completed its acquisition of Polytop in a move to strengthen its personal care operations worldwide.
“With the acquisition of Polytop Corporation [MWV] is expanding its capabilities in targeted packaging … in the design and manufacturing of dispensing closures”, MWV said.
In line with growth strategies
MWV said that this acquisition was a part of its global business strategy to increase the growth of the company which was outlined last month.
Polytop’s packaging capabilities include caps, closures and dosing technology for dispensers and will enable MWV to provide a wider array of dispensing solutions to its customers.
“We expect to grow by expanding our business with existing customers for fragrance pumps and other dispensers, by continuing to grow our airless dispensing products … and commercializing new product innovations”, MWV told CosmeticsDesign.com USA.
MWV added that Polytop is a relatively small bolt-on acquisition with annual revenue of $50m. It expects a portion of this revenue to add to the top line of the beauty and personal care packaging business in the near term.
The company aims to use Polytop’s capabilities and technologies to accelerate its presence in North America as well as expanding to other geographies using its global platform.
MWV has also said that it is looking into expanding in to the emerging markets especially and Brazil, India and China in particular.
In outlining the growth strategies last month, MWV said it would “build on existing capabilities and partnerships, as well as look for attractive bolt-on acquisitions that add technologies to our existing packaging platform, or enable us to enter adjacent segments of the personal care market.”