US packaging machinery company ProMach has acquired Spanish horizontal form-fill-seal pouch manufacturer FLtècnics to continue the expansion of its global presence and flexible packaging product line.
The financial terms of the acquisition were not disclosed by the parties.
ProMach has been selling FLtècnics products in the North American market since 2014.
ProMach president and CEO Mark Anderson said: “Five years ago, we saw a growing need in the North American marketplace for a single source provider of a full range of flexible packaging solutions.
“We have invested in this space through product development, acquisitions, and strategic partnerships with companies like FLtècnics.
“They are a technology leader in the horizontal form-fill-seal pouch space and we are excited to invest in their continued product development to bring new innovations and new technology into the global marketplace.”
ProMach’s product offering in its Flexibles business line includes flexible packaging machinery solutions, including bags, pouches, sachets, stickpacks.
The company enhanced its focus on the Latin American and European markets in recent years to shore up global sales.
The acquisition of FLtècnics will allow the company to bolster its global position in the stand-up pouch market.
Anderson added: “The global stand-up pouch market, in particular, is showing highly favourable tailwinds for continued strong growth over the next five years, which makes taking the next step to bring FLtècnics fully into the ProMach family of product brands a natural fit.”
FLtècnics is engaged in manufacturing servo-controlled carrousel and walking-beam horizontal form-fill-seal machines, which have the ability to package 400 pouches per minute.
The company manufactures products in different formats including flat pouches, stand up pouches, spouted pouches, zipper pouches, Velcro pouches, and three side seal pouches.