USA, Lombard, Illinois. Viskase Companies, Inc announced that it has signed a definitive agreement to acquire 100% of the equity interests in Walsroder Casings Group (including its subsidiaries Walsroder Casings GmbH and Walsroder Casings Polska Sp. z o.o.), headquartered in Bomlitz, Germany, from Quota International GmbH and CT Holding GmbH. The acquisition also includes the casing business assets of Poly-clip System, LLC, Walsroder’s US distributor and an affiliate of Quota, located in Mundelein, Illinois.
Thomas D. Davis, Chairman, President, and CEO of Viskase, commented, “We look forward to adding the high quality products and talented management and people of Walsroder to the Viskase family. This acquisition will augment our large portfolio of products serving the processed meat industry around the world, and the combination of the talented people of both companies will result in a stronger and more competitive Viskase.”
Final closing of the acquisition is expected by mid-January, once regulatory requirements are completed. Transition of the Poly-clip casings finishing and distribution business in the US to Viskase will occur over the next few months to ensure that all customer needs will continue to be satisfied.