Aptar Group, Inc. (NYSE: ATR) today announced it has signed an agreement to acquire Mega Airless, a leading provider of innovative airless dispensing systems for the beauty, personal care and pharmaceutical markets. This strategic acquisition adds complementary products and market coverage to AptarGroup's existing diversified portfolio of business.

Under the terms of the agreement, AptarGroup will acquire Mega Airless for an enterprise value of approximately € 200 million ($ 218 million). The purchase will be funded with available cash on hand in Europe and an existing revolving credit facility. The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of this year.

Mega Airless has over 30 years of experience and has grown to become a leader in airless dispensing technology with two manufacturing facilities in Germany and one in the United States. Mega Airless' projected annual revenues for 2015 are approximately €61 million (approximately $66million) and the company has achieved EBITDA (earnings before interest, taxes, depreciation and amortization) margins in excess of 30% over the past three years.

Commenting on the transaction, Steve Hagge, President and CEO said, "We are very pleased to announce this strategic acquisition which aligns with our disciplined approach of acquiring well-managed, profitable businesses with innovative technology. Their products and the markets they serve are complementary to our own and we see significant opportunit ies to leverage Aptar Group's global network to grow this business.

Today, dermal applications are growing and evolving. Regulatory agencies in the prescription and over-the-counter pharmaceutical markets, and customers in the beauty and personal care markets, are seeing better ways to control dosing and preserve formulations across a variety of products. This transaction will enable us to shape the future of airless solutions."