European sustainable packaging solutions provider Coveris has invested in its labels business with the acquisition of the Czech Republic-based enterprise S&K LABEL.
This is Coveris’ third strategic expansion in Central and Eastern Europe (CEE) and its first label business acquisition outside the UK.
Established in 1991, S&K LABEL is a large and technologically advanced self-adhesive label producer in CEE.
The acquisition follows Coveris' recent strategic moves in Hungary and Poland, where it acquired two flexible packaging plants.
This latest deal with S&K LABEL is seen as a significant step in creating a pan-European business platform for Coveris, particularly in the labels sector.
The financial terms of the transaction remain undisclosed.
Coveris CEO Christian Kolarik said: "We are excited by this opportunity to invest in the growth of our labels business, build on our platform and broaden our geographic reach.
"The acquisition of S&K LABEL is an excellent opportunity for us to secure locally produced high-quality labels for our customers, helping to meet the current and anticipated future growth in demand for sustainable labels. This acquisition will also enable us to further strengthen our position in mainland Europe.”
Coveris also announced its plans to unveil its latest sustainable packaging solutions, including BarrierFresh MAP skillets for the food industry, at this year’s Anuga FoodTec exhibition in Germany.
