Belgium based Drylock Technologies has acquired 100 per cent of the business of Presto Absorbent Products Incorporated (PAPI) in Eau Claire, Wisconsin, US. PAPI is a well-respected innovator and manufacturer of adult incontinence products, serving preeminent institutional and retail distributors in the US. This will support Drylock’s ambitious 2020 plan.

 

“This acquisition brings us significant synergies such as presence in the US, product portfolio expansion, access to a very attractive customer and manufacturing base as well as a highly professional management team,” said Bart Van Malderen, CEO of Drylock Technologies Group.

 

“We are convinced that this strategic acquisition will contribute further to our increasing internal growth and we welcome the customers, employees and suppliers. Like Drylock, Presto is focused on innovation and quality,” he added.

 

Post-acquisition, the employees of PAPI will be integrated in the Drylock structure, ensuring continuity of the existing business. While, the current PAPI facility will serve as Drylock’s US headquarters and operate under Drylock Technologies Ltd. (RKS)