The acquisition forms part of the Coveris 2.0 strategy to invest in regions, capabilities and products with high potential
Coveris, a manufacturer of flexible packaging solutions, has closed the acquisition of packaging solutions provider HLB|SFV, for an undisclosed sum.
HLB|SFV is engaged in manufacturing and selling various shapes of paper bags and paper-based flexibles on reels.
The company also offers what it claims to be premium paper bag conversion capacity in the DACH region, primarily food, pet-food and industrial segments.
Acquisition forms part of Coveris 2.0 strategy
The acquisition forms part of the Coveris 2.0 strategy, which aims to invest in regions, capabilities and products with high potential.
Coveris said that the strategy would help in increasing paper bag production capacity as well as strengthen its sustainability offering.
Coveris CEO Akob Mosser said: “With the acquisition of HLB|SFV we are now able to quickly fulfill all requests, including large volume from international key accounts for these bag solutions.
“Our combined expertise about paper bag production in Firminy, Neuwied and now HLB|SFV is turning Coveris into a sustainability powerhouse for food, pet-food and industrial markets.
“Coveris total turnover is now equally distributed between paper-based solutions, films and flexibles. This is the ideal portfolio to cooperate with our customers and to develop optimized and sustainable packaging solutions.”
Over the last 12 months, Coveris invested in its medical, food, pet-food and home and personal care capacities.
In March 2020, Coveris acquired Hungarian company Plasztik-Tranzit Kft, a provider of advanced flexible packaging solutions for the customers in the food industry.
Plasztik-Tranzit provides modern inhouse capabilities such as extrusion, advanced flexo printing, lamination and converting in both Hungary and neighbouring markets.