Devro Plc Completes Acquisition of Netherlands-based PV Industries
PVI offers Devro access to a strong technical skills base together with an innovative and developing product portfolio
LONDON – Devro PLC Tuesday said it has completed the acquisition of PV Industries BV since receiving clearance from the authorities in certain EU jurisdictions.
The manufacturer of collagen products for the food industry said that the acquisition offers it access to a strong technical skills base and an innovative developing product portfolio. Netherlands-based PVI manufactures collagen gel products for the meat processing industry.
In 2014, PVI made earnings before interest, tax, depreciation and amortisation of EUR1.3 million on sales of EUR6.3 million.
In July, Devro said it would pay up to EUR13.5 million for the acquisition.
“I would like to welcome the team at PVI to Devro and look forward to working together to support Devro’s strategy by growing sales of collagen products through product differentiation and enhancing value for customers,” Chief Executive Peter Page said in a statement.
Source: Global Meat News7 October 2015