With the addition of a range of sustainable and pulp-based packaging solutions, the acquisition will help Tekni-Plex to expand its materials science solutions in the fresh food market segment
Tekni-Plex, a provider of material science solutions, has purchased assets and licensed technologies of US-based Fibro for an undisclosed sum.
Based in Tacoma of Washington, Fibro is engaged in the development and manufacturing of moulded-fibre packaging solutions.
The deal will help Tekni-Plex to expand its materials science solutions in the fresh food market segment with the addition of a range of sustainable and pulp-based packaging solutions.
The acquired business will be included in Tekni-Plex’s Dolco Packaging business, thereby helping to provide product offerings beyond egg cartons and meat trays.
Tekni-Plex Dolco Packaging general manager and senior vice president Jay Arnold said: “The Fibro transaction aligns well with Tekni-Plex’s existing Dolco Packaging business, and will enable us to create a range of best-in-class sustainable solutions while delivering added customer value.
Fibro’s advanced pulp technologies enable to produce fibre-based egg carton with smooth finish. The technologies will facilitate precise package printing and streamlined packaging line operation, in addition to offering enhanced product protection.
The acquisition will also allow Tekni-Plex to achieve sustainability-minded, material agnosticism across a range of packaging solutions.
The recent acquisitions of Keyes Packaging Group and Grupo Phoenix also helped Tekni-Plex to significantly strengthen its fibre and paper capabilities.
Tekni-Plex consumer products CEO Eldon Schaffer said: “With these acquisitions, we are building a material agnostic platform from which Tekni-Plex will provide materials-science based solutions that meet our customers’ performance and sustainability needs across a variety of substrates.
“We believe these solutions will be extremely attractive to the high-growth fresh foods markets, especially on the perimeter of the store.”
In September last year, Tekni-Plex acquired US-based Keyes Packaging Group from Arbor Investments.