Netherlands-based contract packaging firm Tjoapack has entered the US market by acquiring healthcare packaging services provider Pharma Packaging Solutions (PPS).
Based in Clinton, Tennessee, PPS provides pharmaceutical and medical device industry customers with commercial packaging and other complementary services, including product retain services and cold chain storage.
The financial terms of the transaction have not been disclosed.
Tjoapack CEO Dexter Tjoa said: “Tjoapack’s acquisition of PPS creates an opportunity to build a new global leader in contract packaging and supply chain services for the pharmaceutical market.
“Both companies are known in the market for having a nimble, customer-centric mindset that translates into high service quality and flexibility in providing tailored solutions to complex client needs.
“Having operations in both the US and Europe will ensure that our customers’ products are available to patients that need them anywhere and anytime.”
The acquisition will allow PPS to use Tjoapack’s resources and global presence to advance its growth.
PPS will also invest to improve Tjoapack’s operational efficiency and capabilities, including adding automated packaging and labelling capabilities for injectable products.
PPS president Reid Lederer said: “Together, the two companies will emerge as a leading, trusted provider of packaging and other value-added services to healthcare industry clients around the globe.”
Private equity firm Ampersand Capital Partners funded the acquisition of PPS for Tjoapack, having first invested in Tjopack last year.
Founded in 1989, Tjoapack offers advanced, flexible services for the pharmaceutical industry.
The company’s product portfolio includes primary, secondary and unit dose packaging for oral solid dose blister packs, wallets and bottles.
It also offers automated labelling and packaging services for injectable products, as well as complementary supply chain services.
The company operates a 120,000ft² facility near the ports of Rotterdam and Antwerp, from which it serves the European market.