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ACQUISITIONS | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
ACQUISITIONS | ACQUISITIONS Business Combinations BTY On July 28, 2025, we executed our call option to purchase an additional 31% equity interest in three related companies: Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou BTY (collectively referred to as “BTY”) increasing our beneficial ownership to 80%, in exchange for cash consideration of $29.2 million with additional $7.4 million consideration that is included within accounts payable, accrued and other liabilities on our Condensed Consolidated Balance Sheet that settled on October 28, 2025. The BTY entities are leading Chinese manufacturers of high quality, decorative metal components, metal-plastic sub-assemblies, and complete color cosmetics packaging solutions for the beauty industry. We accounted for this acquisition as a business combination resulting in the consolidation of BTY within the Aptar Beauty segment in our financial statements. A redeemable non-controlling interest was recognized at fair value. Under the terms of the agreement, we have a call option to acquire the remaining equity interests of BTY based on a predetermined formula in three years. Additionally, the selling shareholder of BTY has a put option for the remaining equity interest to be acquired by Aptar based on a predetermined formula. As a result of this acquisition, we remeasured our previously held minority equity interest in BTY at fair value resulting in a pre-tax gain of $26.5 million recognized in Gain from remeasurement of equity method investment on our Consolidated Statements of Income.The acquisition date fair value of the previously held minority equity interest was calculated by multiplying the gross-up of the total consideration for the acquired ownership interest by the related effective previously held equity interest of 49%. The following table summarizes the assets acquired and liabilities assumed from the BTY acquisition as of the acquisition date at the estimated fair value. As of September 30, 2025, we have not completed the analysis to assign fair values to all tangible and intangible assets acquired. As such, the preliminary purchase price allocation is subject to further refinement and may change.
| 2025 |  |
Assets |  |  |
Cash and equivalents | $ | 8,908 |  |  |
Accounts and notes receivable | 15,525 |  |  |
Inventories | 13,042 |  |  |
Prepaid and other | 935 |  |  |
Buildings and improvements | 28,566 |  |  |
Machinery and equipment | 26,223 |  |  |
Goodwill | 71,709 |  |  |
Intangible assets | 21,468 |  |  |
Operating lease right-of-use assets | 610 |  |  |
Miscellaneous | 3,401 |  |  |
Liabilities |  |  |
Current maturities of long-term obligations, net of unamortized debt issuance costs | 27,724 |  |  |
Accounts payable, accrued and other liabilities | 27,894 |  |  |
Deferred income taxes | 4,718 |  |  |
Operating lease liabilities | 610 |  |  |
Long-term obligations, net of unamortized debt issuance costs | 10,936 |  |  |
Deferred and other non-current liabilities | 781 |  |  |
Net assets acquired | $ | 117,724 |  |  |
The following table is a summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives for the BTY acquisition as of the acquisition date:
| 2025 |  |
| Weighted-Average Useful Life (in Years) |  | Estimated Fair Value of Assets |  |  |  |
Acquired technology | 5.4 |  | $ | 4,876 |  |  |  |  |
Customer relationships | 14.4 |  | 11,145 |  |  |  |  |
License agreements and other | 43.2 |  | 5,447 |  |  |  |  |
Total |  |  | $ | 21,468 |  |  |  |  |
Goodwill in the amount of $71.7 million was recorded related to the BTY acquisition. Goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill acquired in the BTY acquisition largely consists of estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized and is attributable to expected revenue growth as synergies within the company. Goodwill will not be amortized, but will be tested for impairment at least annually. For the BTY acquisition, no goodwill will be deductible for tax purposes. Acquisition costs of $0.6 million were incurred related to BTY during the nine months ended September 30, 2025. Pro forma results of operations for this acquisition are not presented because the acquisition is not material to the Company's consolidated results of operations for the period ended September 30, 2025. Sommaplast On September 30, 2025 we entered into an agreement to purchase Sommaplast, a specialized provider of oral dosing pharma packaging solutions, such as droppers, dispensers and dosing cups, based in Brazil. The closing of the transaction is subject to regulatory approvals and other customary closing conditions and is anticipated in the fourth quarter of 2025. The purchase price is approximately $30 million to $35 million.

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