Global plastic packaging company Coveris has acquired cartonboard manufacturer St. Neots Packaging to support its continued growth in the segment.
Coveris UK Food & Consumer business president Mark Lapping said that the acquisition enables the company to provide a packaging offering to better serve customers in both the FMCG cartonboard and food-to-go packaging markets.
"St. Neots provides a hugely exciting opportunity for Coveris, enabling our customers to benefit from increased resources, shared knowledge and enhanced innovation potential," Lapping added.
This acquisition comes after St. Neots invested in the UK's first KBA Rapida 145 large format press to deliver 40% additional cartonboard capacity.
It will place Coveris' UK food and consumer sales in excess of £400m. St. Neots has two facilities in Cambridgeshire and a sourcing office in Hong Kong, which will complement Coveris' existing cartonboard operation in Wisbech, Cambridgeshire.
St. Neots chairman Andy Ducker said that the backing of the Coveris group marks a development for the company, enabling it to accelerate growth to its next phase.
"With Coveris' experience, shared values of service and innovation and extensive knowledge of our products, the acquisition provides a very exciting opportunity for our staff and customers to grow," Ducker added.
St. Neots manufactures cartonboard solutions for the food-to-go and convenience markets and supplies film-lined sandwich packaging, bespoke cartons and other consumer products to retail and foodservice customers in the UK.