Tekni-Plex expands Tri-Seal business with Geraldiscos purchase

12 July 2019 (Last Updated July 12th, 2019 12:34)

Tekni-Plex has made Geraldiscos a part of its Tri-Seal business by buying the Brazilian closure liner manufacturer for an undisclosed fee.

Tekni-Plex has made Geraldiscos a part of its Tri-Seal business by buying the Brazilian closure liner manufacturer for an undisclosed fee.

Geraldiscos produces closure liners and induction seals for containers made of various materials, including polypropylene, polyethylene, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate and glass.

The company serves the food, beverage, personal care, healthcare, agriculture and chemical markets, among others.

Based in Santana de Parnaiba, São Paulo, Geraldiscos’ vertically integrated manufacturing facility is ISO 9001:2015, 14001 and FSSC 22000 certified.

Tekni-Plex president and chief executive officer Paul Young said: “We continue to drive our strategy by growing our business organically and through mergers and acquisitions.

“Specifically, Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers.

“We have followed the company for a long period of time and have always been interested in its high-quality, innovative products, excellent manufacturing capabilities, as well as a very strong management team.”

Geraldiscos’ 140 employees will join the Tekni-Plex team as part of the transaction, with the Brazilian firm’s general manager Gabriel Sahyao Leal Dos Santos to continue leading the business.

The purchase of Geraldiscos is one of 13 completed by Tekni-Plex in the last five years, forming part of the packaging materials manufacturer’s strategy to support its business growth by making transformative acquisitions and strategic add-ons.

In a $215m deal completed last month, Texni-Plex acquired three manufacturing facilities from the flexible packaging business unit of Australian company Amcor.