European packaging company Coveris has acquired Hungarian flexible packaging firm Plasztik-Tranzit.
The financial terms of the acquisition were not divulged.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Plasztik-Tranzit was founded in 1985 and offers in-house capabilities, including extrusion, flexible printing, lamination, and converting across Hungarian and neighbouring markets.
The company serves food, chemical, pharmacy and pet food packaging industries among others.
As agreed, Plasztik-Tranzit will be renamed Coveris Pirtó.
With this acquisition, Coveris will expand into the Central and Eastern European (CEE) market with plans to develop a high-tech packaging production hub in Eastern Europe.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe move will also bolster its capabilities to serve the medical, food and films businesses.
Coveris will leverage Plasztik-Tranzit’s technology to provide extrusion, flexo printing, lamination and converting services to the CEE market.
Coveris CEO Jakob A Mosser said: “We are delighted that after a two-year search we have now found the perfect CEE hub that will serve all our three business units.
“The existing modern technology and the strong focus on high-end converted products are very impressive. We are confident to grow the company within a couple of years to the current average size of Coveris’ sites that is about €50m.”
Headquartered in Austria, Coveris delivers flexible and sustainable packaging solutions. The company operates 25 sites in the EMEA region.
In August last year, the company acquired a 100% stake in UK-based Amberley Adhesive Labels to strengthen its labels business.
Last month, Coveris announced plans to make new investments in the Austrian plant to boost its capacity.
