UK-based sustainable plastic packaging solutions provider Paccor has closed the acquisition of majority stake in EDV Packaging Solutions, a Spanish manufacturer of rigid barrier packaging for the food industry.
Image: A EDV Packaging’s facility at an undisclosed location. Photo: courtesy of EDV Packaging.
The acquisition is a part of Paccor’s long-term growth strategy and efforts to advance its position in rigid barrier packaging applications globally.
EDV Packaging is engaged in developing coffee capsules made from polypropylene, as well as advanced bio compostable materials.
In partnership with global food producers, EDV produces food protection packaging, including barrier sheets and thermoformed containers to extend product shelf-life.
In addition to the manufacturing of rigid packaging solutions for products requiring greater protection against oxygen migration, EDV has developed processes for the efficient manufacturing of barrier applications.
Paccor CEO Andreas Schütte said: “We are very happy to welcome EDV Packaging Solutions as a new member of the Paccor worldwide family. Over the past years, EDV has achieved very impressive growth and profitability. We are happy to merge forces in order to jointly capture further opportunities within Europe and outside of it.”
Paccor said that the acquisition would allow the two firms to lead the changes in manufacturing sustainable packaging, with EDV becoming Paccor’s Center of Excellence for thermoformed products for higher oxygen protection.
EDV president Koke Pursals said: “After 30 years of hard work growing a family business to become the leading European operator of rigid barrier packaging, it is an excellent opportunity for us to be a part of the bigger Paccor family. This is an upscale to become a worldwide player in this fast growing segment.”
The deal also allows Paccor to enter the coffee capsules’ market in Europe.
Paccor said in a statement: “At the same time, EDV has gained a strong partner for the further support of its market growth in Europe and beyond.”
In March 2019, Paccor has introduced its new lightweight bottle closures with 13% less plastic.
The next-generation lighter bottle closures with a new design will allow Paccor to more effectively protect the environment.
Paccor provides sustainable plastic packaging solutions to the customers in the consumer, food service, food and non-food markets.
With operations in 14 countries, the company has 19 manufacturing locations and three sales offices. It employs around 3,500 people.