Tekni-Plex completes the Phoenix acquisition group
WAYNE, Pa., September 21, 2021 / PRNewswire / – Tekni-Plex has completed the acquisition of the leader in rigid packaging solutions Phoenix group, thereby placing the company in a stronger position to grow its market-driven, customer-centric innovations, particularly in the food and beverage markets.
Phoenix group supplies both plastic and paper products to global brands in over 20 vertical markets, such as dairy products, desserts, coffee, beverages, ice cream, soups, spreads, cosmetics and household cleaning.
Acquisition of Adventure, Florida-based company strengthens Tekni-Plex’s ability to provide solutions for packaging, hospitality and single-use consumer products. It also strengthens its ability to help brands develop breakthrough product designs.
“Phoenix group is an established player in the consumer products business adding a wide range of capabilities to our company, “said Brenda Chamulak, President and CEO of Tekni-Plex. “More importantly, we’re adding capabilities that improve our ability to keep food fresher longer with sustainable packaging solutions.”
“This company has a keen eye for how consumers shop around the store,” said Eldon Schaffer, CEO of the Tekni-Plex Consumer Products Division. “This is a particular focus for us as we evolve to serve the food and beverage industry.”
The deal creates synergies with Tekni-Plex’s existing businesses, particularly Dolco, Tri-Seal and Action Technologies.
“We now have a wider range of materials that support us in our work to become more material-independent,” said Schaffer. “Another important aspect is that we have so many talented and intelligent people on our team. You have great energy. They are very competitive and they are very motivated to bring market-oriented ideas with customer orientation to the table. “
“This is an exciting moment for the employees at Phoenix group,” called Jaime Ledermann, COO of Phoenix group. “As part of the global Tekni-Plex family, we are joining a world-class organization. Together we will be able to offer our customers around the world even more innovative and sustainable solutions.”
ABOUT TECHNOLOGY PLEX
Tekni-Plex is a globally integrated company that provides innovative solutions through materials science and manufacturing technologies. Tekni-Plex is a global leader in the healthcare and consumer goods markets, providing medical device components and a variety of materials science solutions that lead to a healthier, more sustainable world. Its solutions can be found in some of the biggest names in the healthcare, pharmaceutical, personal care, household, and food and beverage markets. Headquarters in Wayne, Pa., Tekni-Plex employs 7,000 people in all of its operations Belgium, Brazil, Canada, China, Colombia, Costa Rica, Germany, India, Italy, Mexico, Northern Ireland and the United States. Further information is available at www.tekni-plex.com.
Above Phoenix group:
Phoenix group is one of the fastest growing and most innovative sustainable rigid packaging companies in America. Its products target the commercial food packaging, food service and single-use consumer goods industries. Phoenix group follows and supplies customers via a distributed network of five production sites: two in Colombia, an in Mexico, and two in The United States. visit Phoenix group at www.GrupoPhoenix.com.
SOURCE Tekni-Plex, Inc.