Viscofan buys Nitta Casings for €12.1 million

Mergers & Acquisitions

The move aims to consolidate the Spanish company position in North America.

Posted on Jan 08 ,09:45

Viscofan buys Nitta Casings for €12.1 million

The Spanish casings producer Viscofan will pay €12.1 million for both factories owned in the US and Canada by Nitta Casings, a subsidiary of the Japanese Group Nitta Gelatin. The operation was carried out with a cash disbursement of 2.5 million, in addition to another 9.6 million in financial products such as debt and pensions, according to CDeComunicacion magazine.

This purchase aims to consolidate Viscofan's activity in North America. Nitta Casings has an annual turnover of 40 million dollars and a large presence in both markets. The facilities it has are a collagen extrusion center in New Jersey (United States) with a finishing company in Ontario (Canada).

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