Clondalkin Group Acquires Keller Crescent

EVANSVILLE, IN—06/26/07—Clondalkin Group, the international producer of flexible and specialist packaging products with over 40 production locations throughout Europe and the United States of America and annual sales in excess of $1 billion, is pleased to announce the acquisition of Keller Crescent, the largest independently owned producer of folding cartons, labels, inserts, outserts and other packaging components servicing the North American pharmaceutical and healthcare markets.

Keller Crescent is headquartered in Evansville, IN, and operates three main production plants in Evansville and Indianapolis, Indiana, and in Charlotte, North Carolina – all of which are primary locations ideally situated to service the pharmaceutical and healthcare industry which is the specialty of Keller Crescent. With its full range packaging-components manufacturing capability and its full service design and advertising capability, Keller Crescent is well established as the premier supplier of secondary packaging products for the pharmaceutical and healthcare markets, which account for more than 90% of its sales. Keller Crescent is the long standing and preferred supplier to several leading global pharmaceutical companies.

The acquisition expands Clondalkin’s prominent pharmaceutical packaging supply position to the status of market leadership in North America. Keller Crescent joins other dedicated Clondalkin pharmaceutical supply companies including Pharmagraphics, which operates four complementary production facilities in North Carolina, Connecticut and Puerto Rico. In the European market, Clondalkin supplies the pharmaceutical sector from Pharmagraphics Guy in Cork and from Kenilworth Products in Dublin, which together constitute the Irish supply base. In addition to these dedicated pharmaceutical packaging production sites, several other Clondalkin operations located in the United Kingdom, Poland, Netherlands and Germany also supply the pharmaceutical and healthcare markets.

Tom Smythe, the President of Keller Crescent, welcoming the acquisition said: “We are very pleased to become part of Clondalkin’s family of businesses. This is a great strategic fit that creates a real packaging powerhouse to serve the pharmaceutical/healthcare packaging markets. Clondalkin’s complementary resources coupled with our unwavering commitment to quality will make us even more attractive to pharma/healthcare companies. Our geographic reach and production capacity has dramatically increased as a result of joining the Clondalkin Group. The acquisition opens an exciting phase of new opportunities for all our management, employees and most particularly our customers.”