Italian packaging solutions provider AMB has acquired UK-based food packaging business TDX (Europe) for an undisclosed fee.

TDX provides polyethylene terephthalate (PET), recycled PET and laminated rigid films for the food and packaging industry.

Included in the Italian firm’s acquisition is TDS’ product design, prototype and tooling business.

AMB claims the deal will allow it to create a pan-European entity in the rigid and flexible plastic film and packaging solutions market. It will serve regional markets by manufacturing products locally.

The partnership also creates a single point of access to market products and services such as tooling and concept design, product specification, print design and application.

This will enable AMB to offer new products and services in accordance with customer needs by creating one-supplier relationships with them.

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The merger will also support AMB to create a major business in the market, as well as further strengthening its customer-focused business approach with a full-service offering.

AMB chief operating officer Giles Peacock said: “This is a highly complementary acquisition that will help AMB widen our European footprint to be more local to our clients in Northern Europe.

“We have always had a clear vision and part of the vision is to create a group that can offer a complete end-to-end process for food packaging customers. [It is] a very exciting time for the market.”

The merged entity will have four facilities across Europe, along with a network of international distribution warehouses consisting of 430 employees.

In addition, the two businesses will continue developing and manufacturing products by focusing on sustainability and food safety.

TDS’s design and tooling business will continue serving its local and global customer base, as well as offering added-value services to existing AMB customers by bolstering its ability to offer complete packaging solutions.

Finint Investments SGR acted as the anchor investor for this transaction, which is supported by a private debt instrument.