Subject to competition clearance, international packaging and paper group Mondi has signed an agreement to acquire the outstanding share capital of Ascania Nonwoven Germany GmbH from private equity investors Schloss Naugattersleben Group for €54 million on a debt-and-cash-free basis.
Ascania, which produces nonwoven fabrics and nonwoven composites used as components in personal care products, is headquartered in Aschersleben in the Salzlandkreis district of Germany. The business currently employs 150 people and will be integrated into Mondi’s Consumer Packaging Business Unit.