PSB INDUSTRIES (EPA:PSB) - PSB Industries - Acquisition C+N

Transparency directive : regulatory news

24/07/2014 09:02

Press release

July 24th, 2014
Annecy, France

                   Acquisition of C+N Packaging, Inc. (USA)

PSB INDUSTRIES has signed  an  agreement  to acquire C+N Packaging,  Inc.
(USA). This first strategic acquisition of the Ambition 2020 plan, subject to
usual conditions precedent, will enable the group to accelerate its growth in
the Luxury & Beauty market.

C+N Packaging is a renowned global plastic packaging manufacturer for
prestigious Beauty customers including Avon, Estée Lauder and Elizabeth Arden.
With its plants in North America and Poland (including injection molding and
metallization), C+N Packaging has been providing service and value to its
customers for more than two decades.

PSB INDUSTRIES intends to leverage C+N Packaging's complementary strengths;
combining forces with its Beauty Packaging Business Unit (TEXEN) in order to:

  - Enrich its client portfolio,
  - Strengthen its position in North America,
  - Reinforce its presence in the Fragrance market segment,
  - Increase its offering to customers through added surface treatment
    capabilities.

Olivier Salaun, PSB INDUSTRIES' President & CEO, stated:
"We are in line with our Ambition 2020 plan and the entire PSB INDUSTRIES Group
is thrilled at the prospect of welcoming C+N Packaging. Its complementarity
with our Beauty Packaging BU makes it a great fit while opening new growth
perspectives from a customer portfolio, geographical and technological
standpoint."

Chris Young, C+N Packaging's President, stated:
"I am very excited for our employees and most importantly our customers who
will both directly benefit from our combination with an industry leader. The
C+N Packaging team and facilities will continue to serve customers, as part of
PSB INDUSTRIES."

PSB INDUSTRIES is an innovation-driven industrial group with leadership
positions in packaging and specialty chemicals. The group reported consolidated
revenues of EUR257 million in 2013 including over 60% from international sales.
The group has production plants in France, the United States, Japan and
Mexico.

        Nyse Euronext (ISIN FR0000060329) - CAC Small, CAC Mid & Small,
                          and CAC All-Tradable Indexes
       Follow all the company's financial results at: www.psbindus.com -
                             finance@psbindus.com

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