Packaging materials manufacturer Tekni-Plex has purchased three manufacturing facilities from Australian packaging company Amcor’s Flexible Packaging business unit for a cash consideration of $215m.
The three facilities are located in Madison and Milwaukee in Wisconsin, US, and Ashland in Massachusetts, US.
The deal is the eleventh acquisition for Tekni-Plex in the past five years and is part of the company’s plans to expand its business though transformative acquisitions and strategic add-ons.
Tekni-Plex president and CEO Paul Young said: “The acquisition expands our complex packaging solution portfolio for medical device manufacturers, many of whom have been supplied by our Colorite, Natvar and Dunn medical products businesses for decades.
“The acquisition of these three plants also brings us 150 highly qualified and experienced employees who form the backbone of the business. We are happy to welcome them to the Tekni team of 3,000 strong across the world.”
Amcor produces sterilisable medical device packaging substrates such as coated and uncoated Tyvek, along with heat-seal and cold-seal coated paper and films, medical grade laminates as well as die-cut lids and labels at the three plants.
Headquartered in Wayne, Pennsylvania, Tekni-Plex develops and manufactures products for various end markets including medical, pharmaceutical, food, beverage, personal care, household and industrial.
The company operates manufacturing facilities across eight countries globally.