Mondi has completed the sale of its Personal Care Components (PCC) business to Nitto Denko Corporation for an enterprise value of 615 million EUR.
The divestiture was announced in February 2022. «We are pleased to have completed the sale of PCC to Nitto ahead of schedule, » says Andrew King, Group CEO of Mondi. This enables us to simplify our portfolio and focus on our strategic priority to grow in sustainable packaging».
PCC was part of Mondi’s Engineered Materials division. The remaining portion of Engineered Materials, Functional Paper and Films, will become part of Flexible Packaging and reported within this segment. This strengthens integration along the kraft paper value chain, enabling us to develop more innovative functional papers with barrier properties.