It's been an active time period for acquisitions in the packaging industry. Here's a couple key developments:
Global plastic packaging company Coveris has made another move on the acquisition front. The company has acquired UK flexible packaging provider Learoyd Packaging. Terms of the transaction were not disclosed.
Established in 1976, the Burnley-based business, initially supplied paper and plastic bags to the textiles industry, before focusing its strategy on the fast-moving food packaging market to achieve sales in excess of £20 million ($26.3 million) in 2013. Coveris states that the strategic acquisition of Learoyd will support and strengthen its UK flexible packaging offering through advanced processes and technologies in addition to providing access to new customer and product markets.
Mark Lapping, president of Coveris' UK food & consumer business, said: "Learoyd has built an enviable market reputation for flexible packaging through its innovative culture, focus on best practice and strong management team. Through our aligned capabilities in flexographic print, Coveris' investment in Learoyd will offer our customers greater access to first-class technology and an extensive knowledge base."