Packaging innovator Tekni-Plex seems to have its sights set on the fresh food space, further strengthening its hold with a recent acquisition. The company recently announced it has acquired assets and licensed technologies of Fibro Corporation.
“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,” said Eldon Schaffer, Chief Executive Officer, Tekni-Plex Consumer Products. “We believe these solutions will be extremely attractive to the high-growth fresh foods markets, especially on the perimeter of the store.”
Fibro Corporation is a Tacoma, Washington-based company that develops and manufactures innovative molded-fiber packaging. According to a press release, the recent transaction strategically expands Tekni-Plex’s solutions in the fresh food marketplace to include a broader range of sustainable, pulp-based packaging solutions. The new assets and technology became a part of Tekni-Plex’s Dolco Packaging business on January 18.
This move positions the packaging provider as one of the only United States suppliers of egg cartons manufactured in foam polystyrene, PET, and pulp-based materials. Fibro’s advanced pulp technologies create revolutionary packaging that allows for easier and more precise printing, improved product protection, and more streamlined packaging line operation. With the acquisition of these resources, Dolco will expand its product offerings beyond its primary focus on egg cartons and meat trays, concentrating on growth within the fresh food sector.
“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,” said Jay Arnold, Tekni-Plex Senior Vice President and General Manager, Dolco Packaging. “Our intention is to invest further in this innovative technology platform as we scale up, increase capacity, and expand our product lines to bring superior solutions to the broader fresh foods landscape.”
This recent acquisition rapidly advances Tekni-Plex’s ambitious goal of achieving sustainability-minded, material agnosticism across a broad spectrum of packaging solutions. This deal, in addition to the company’s recent acquisitions of Keyes Packaging Group and Grupo Phoenix, Tekni-Plex has significantly strengthened its fiber and paper capabilities, thus increasing its ability to provide new innovations to better protect products, strengthen brands, and increase sustainably.
As the company bolsters its standing in the fresh food segment, keep an eye out for Deli Market News for updates on all things deli, dairy, and specialty.
