Packright Manufacturing is a supplier of rPET recycle grade thermoformed rigid packaging for fresh foods, produce, and baked goods for confectionery, bakery, snacks, food service markets
CKF buys thermoformed rPET firm Packright Manufacturing. (Credit: Romjan Aly from Pixabay)
CKF, a portfolio company of Scotia Investments Family of Companies, has snapped up Canada-based Packright Manufacturing for an undisclosed sum.
Founded in 2003, Packright Manufacturing supplies rPET recycle grade thermoformed rigid packaging for fresh foods, produce, and baked goods.
The firm provides custom-designed, short- and medium-run niche packaging solutions to brand owners across fast-growing markets such as produce, confectionery, bakery, snacks, food service, and others.
Its primary packaging solutions include clamshell and hinged plastic containers, trays and tills, and cake bases and domes, as well as other value-added services.
Packright Manufacturing will now become a wholly-owned subsidiary of CKF, and the firm will continue to operate under ‘Packright’ brand.
The management team and employees of Packright are said to be integral to the next stage of growth for Packright, as part of CKF.
Packright Manufacturing owner Colin Chiu will be appointed director of new market development, plastics.
Through the transaction, Packright will get access to CKF’s capital strength, manufacturing know-how and capacity; while CKF will benefit from Packright’s design expertise.
Furthermore, the combined customer base will have access to a broader product line, expanded production capacity from CKF’s Delta plant and a vertically integrated supplier when CKF’s extrusion facility in Rexdale, Ontario, is operational in December this year.
CKF president Ian Anderson said: “Counting Packright as part of the CKF family is a milestone for our entire group.
“Not only are we gaining a tremendous depth of knowledge in rPET design and manufacturing, but the acquisition aligns with our vision and investment strategy to build the scale and standardisation required for a sustainable, circular economy for rPET.”
Canada-based CKF offers a range of moulded pulp, foam, and rPET products to meet the demands of retail consumers, food service operators and the packaging industry. The firm operates five plants in Canada and two plants in the US.
SIL president and chief executive officer Randy MacMillan said: “On behalf of our Board and Shareholding Family, I extend a warm welcome to the employees of Packright.
“We are looking forward to working together to build a sustainable future, incorporating leading-edge, closed-loop strategies for rPET.”