Mayr-Melnhof, a producer of carton board and folding cartons, completed the acquisition of the packaging businesses of Essentra, a provider of essential components and solutions, for £312m. "The sale of Packaging marks a significant step on our journey to become a pure play Components business. A substantial amount of work has gone into improving the Packaging division over the last few years and I would like to thank all colleagues for their commitment and hard work whilst part of Essentra. I wish them all the best for the future. I am sure that the business will continue to make excellent progress under the ownership of Mayr-Melnhof. This transaction will enhance Essentra's balance sheet strength and enable the Group to participate in further investment activity," Paul Forman, Essentra CEO.