US-based packaging companies Action Packaging and Signature Flexible Packaging (Signature) have completed their acquisition of Techflex Packaging (Techflex).
The acquisition comes after Action Point and Signature announced plans to merge to create a premier flexible packaging platform in January.
Based in Gardena, California, Techflex offers pouch converting capabilities for short-run customers with a high number of stock-keeping units (SKUs).
The company focuses on the food and medical end markets in North America.
With this addition, Action Packaging and Signature aim to deliver an enhanced full-service flexible packaging product to meet increasing demand from their combined customer base in North America.
The financial terms of the deal have not been disclosed.
Signature is a portfolio company of HIG Capital, an alternative assets investment firm based in Miami, Florida.
HIG Capital managing director Ryan Kaplan said: “We are thrilled to support this strategic investment.
“Techflex’s pouch converting capabilities represents a natural expansion of the Company’s existing capabilities on the West Coast.”
Following the acquisition, Action Point and Signature, together with Techflex and Chromatic Label, have been rebranded as DazPak Flexible Packaging (DazPak).
DazPak will operate as an integrated platform for flexible packaging via a network of four facilities in Southern California.
The company will serve various markets, including the food and beverage, health and beauty, pet food, pharmaceutical, nutraceutical and agricultural segments.
DazPak CEO John Attayek said: “We created DazPak to take the friction out of the packaging process, making it easier and faster for our customers to get their product to market in high-quality packaging.
“We’ve integrated the significant leadership, experience and talent from these companies, to bring our expertise in design, manufacturing, printing and converting together under a single brand that delivers more value, service and choice to our customers.”
Action Packaging and Signature agreed to combine their businesses in January last year.