The strategic deal will allow Coveris to expand its UK presence and enhance its manufacturing capacities.

A former privately owned company, Four04 is involved in flexible packaging manufacturing and supplying packaging materials for various industries.

It focuses primarily on packaging solutions for fresh food, produce and bakery applications.

Coveris CEO Jakob Mosser said: “With Four04, we have found another excellent partner for our growth plans.

“Four04 is a profitable business with a well-established and strong customer base and excellent packaging solutions, that will provide us with opportunities to further strengthen our offering in these segments.”

The financial details of the transaction have not been disclosed.

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Coveris implemented a permanent market screening process before selecting Four04 as a suitable partner to support its strategic growth targets.

Headquartered in Vienna, the company produces flexible packaging solutions for various markets, including food, pet food, medical devices, industrial and agricultural applications.

It currently operates 28 sites in the Europe, Middle East and Asia (EMEA) region and employs a total of 4,100 people.

In March, Coveris purchased UK-based bag manufacturer Initial Packaging as part of an ongoing strategic expansion.

Initial Packaging supplies tamper-evident packaging products used by companies of all sizes in various markets, including the security, logistics, post and e-commerce sectors.

Last September, the company acquired HLB|SFV, a company specialising in manufacturing and selling various shapes of paper bags and paper-based flexibles on reels, for an undisclosed amount.

The company’s acquisition of HLB|SFV was part of a strategy to invest in regions, capabilities and products with high potential. It was intended to increase the company’s paper bag production capacity and strengthen its sustainability offering.

Last March, Coveris acquired Hungary-based flexible packaging company Plasztik-Tranzit, which primarily serves the food industry, for an undisclosed amount.