US-based healthcare and consumer technology firm Tekni-Plex has purchased the assets and licensed technologies of packaging company Fibro.
Based in Tacoma, Washington, Fibro specialises in building and producing moulded-fibre packaging using its advanced pulp technologies.
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Following the acquisition, the company has been integrated into Tekni-Plex’s Dolco Packaging business as of 18 January.
The addition will make Dolco the only US supplier of egg cartons made from foam polystyrene, polyethylene terephthalate (PET) and pulp-based materials.
The business will also be able to expand its product offerings by adding a broader range of sustainable, pulp-based packaging solutions to its existing egg cartons and meat trays.
Tekni-Plex senior vice-president and Dolco Packaging general manager 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.
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By GlobalData“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.”
The acquisition is intended to strategically expand Tekni-Plex’s portfolio of material science solutions for the fresh food marketplace.
It will complement the company’s other recent acquisitions, which include Keyes Packaging Group, M-Industries and Grupo Phoenix.
Fibro is also expected to help Tekni-Plex meet its sustainability goals by adding to its fibre and paper-based production 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 high-growth fresh foods markets, especially in the perimeter of the store.”
