US-based C-P Flexible Packaging has acquired MRI Flexible Packaging in a move to expand its production capacity.
The financial terms of the transaction were not disclosed.
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MRI supplies polyethylene stretch sleeves in the US, primarily for clients from the household chemical, consumer and beverage markets, as well as shrink sleeves and roll labels.
C-P president and CEO Tony Vaudo was quoted by Packaging World as saying: "This is a strategic step forward for us.
"We’re always looking for ways to offer our customers a higher level of value, service and innovation.
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"MRI is a good fit; we share the same customer-centric culture with a focus on national brands and private label."
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By GlobalDataC-P primarily focuses on the food industry and produces pouches, re-sealable packaging and shrink sleeves.
Speaking on the acquisition, C-P’s controlling shareholder First Atlantic Capital managing director Emilio S Pedroni said: "When we invested in C-P, we knew we wanted to achieve big things in flexible packaging, and acquiring MRI is the first step.
"It substantially increases the range and potential we bring to market.
"We’re particularly excited about the new technology in C-FiT, which is a no-heat shrink sleeve designed for single-serve-size bottles."
MRI will continue to operate under current management.
