Essentra adds to security portfolio with £28m Abric buy

Essentra has agreed a deal to acquire the Malaysian units of security seal specialist Abric Berhad for around £28m, boosting its position in tamper-evidence technologies.

Abric's security seals are used for a wide range of applications across industrial sectors to protect and secure customers' brands and products, with applications in agriculture, healthcare, food and beverage and the petrochemicals sectors, amongst others.

The Malaysian-headquartered company has two manufacturing plants for its products - one in its home market and another in Thailand - and has annual revenues of around £15m, according to Essentra. Around 40 per cent of its turnover is in the Asia-Pacific region.

UK-based Essentra will roll Abric's operations into its component and protection solutions division, which makes plastic injection moulded, vinyl dip moulded and metal goods used in a wide variety of applications and industries.

"Abric is a compelling strategic fit for Essentra," said the company's chief executive Colin Day.

"Not only is its product portfolio applicable to a broad range of attractive end-markets and is highly synergistic with our manufacturing and distribution channels, Abric also significantly expand the division’s presence in the fast-growing Asia Pacific region," he added.

Abric's product range includes barrier seals, variable- and fixed- length seals as well as products to protect tote boxes, labels and pouches.