Chemical company Dupont de Nemours Inc. (NYSE: DD) announced Tuesday that it will acquire medical-device contract manufacturer Donatelle Plastics Inc., which is based in New Brighton, Minnesota.
Terms of the deal were not disclosed, but it's slated for completion in the third quarter of this year.
Donatelle Plastics was founded in 1967 and has about 400 employees. The company produces medical products for electrophysiology, drug delivery, diagnostics, cardiac rhythm management, neurostimulation and orthopedic extremities.
"We're excited for this next chapter in Donatelle's journey and for our team of highly talented and skilled employees to join DuPont," said Treasa Springett, president of Donatelle Plastics, in a statement. "As a part of a broader healthcare offering, we will have even greater impact on patient outcomes by enabling the innovation and development of next generation devices for patients worldwide."
Ballard Spahr LLP served as legal adviser to DuPont. Minneapolis-based Piper Sandler Cos. served as financial adviser and Minneapolis-based Fredrikson & Byron was legal advisor to Donatelle.
In May, Willington, Delaware-based DuPont split into three publicly traded independent companies and appointed a new CEO. For 2023, DuPont generated $12.1 billion in net sales, a decrease of 7% from last year.
