US-based packaging and medical product supplier Tekni-Plex has acquired M-Industries, a company that provides vented lining technology for containers.
M-Industries represents Tekni-Plex’s 16th acquisition in the last five years.
The deal is in line with the company’s growth strategy through transformative acquisitions and strategic add-ons.
The financial terms of the transaction have not been disclosed.
Tekni-Plex Consumer Products CEO Eldon Schaffer said: “We are proud to have M-Industries join Tekni-Plex as we continue to strengthen our material science capabilities to help protect our customers’ brands and their products.
M-Industries founder and CEO Karlis Mateus said: “The partners at M-Industries recognised that to achieve continued growth and development, we needed a strong, global industry partner with similar values and strategy.
“We found that the team at Tekni-Plex shares our view of the market, people and values.”
M-Industries provides complex venting lining solutions for products requiring air pressure regulation.
Venting is intended to prevent panelling, bloating and leakage from a sealed container by regulating internal pressure.
Following the acquisition, M-Industries will operate as part of Tekni-Plex’s Tri-Seal business, which produces closure liners, lidding and healthcare packaging.
Tekni-Plex will take ownership of M-Industries’ current offices and staff, as well as its manufacturing facility in Ada, Michigan.
Tri-Seal Americas vice-president and general manager Brian Jacobi said: “The addition of M-Industries increases the global scope of solutions we can provide to customers, including venting expertise and technical packaging, which has great applications in the demanding e-commerce [and] home delivery channels.
“Both companies offer high-quality, niche products engineered to serve specific packaging applications.”
Last month, Tekni-Plex agreed to acquire rigid packaging company Grupo Phoenix for an undisclosed sum.
This acquisition will allow the company to offer more solutions, including venting expertise and technical packaging, to customers.
Based in Wayne, Pennsylvania, Tekni-Plex serves the healthcare and consumer products sectors.
The company has 4,000 employees across its operations in Belgium, Brazil, Canada, China, Costa Rica, Germany, India, Italy, Northern Ireland and the US.