Chicago-based Coveris Holdings Corp., a global flexible packaging company, has recently acquired Olefinas, a leading agricultural plastics company, which has more than 600 employees across its two locations in Guatemala City, Guatemala and San Luis Potosi, Mexico.
Breaking into the Latin American market supports Coveris’ initiative to provide an entire range of packaging solutions for agricultural products. This is the second latest geographic arena Coveris has entered in the past six weeks, following the recent acquisition of Elldex, a full-service flexible packaging company in New Zealand.
Olefinas manufactures packaging solutions for a wide range of agricultural products, including tree bags, labels, twine and aging ribbons for the banana industry, as well as mulch and fumigation films, insect traps, modified atmospheric packaging and shrink films. Since 1959, Olefinas has been the pioneer of banana plastics and produces more than 300 million pounds of high value added products annually dedicated to enhancing crop yield, according to Coveris.
"Among our product range, we handle the famous banana bags. We distribute them mainly in Latin America and the Caribbean, although we have also exported them on occasion to Spain to protect the Canarian banana," says Diego Ramirez, Olefinas' Marketing Manager. "We also have polyethylene films to prevent friction between the fruit during packing, which allows it to arrive in a better state to the American and European markets."
“We consistently look for opportunities to better serve our growing customer base and expanding our market reach,” said Gary Masse, Coveris CEO.
Capitalizing on Coveris’ global strengths and Olefinas’ agricultural market expertise, this Latin American-based operation will be rebranded as COVERIS-Olefinas.
“Olefinas is thrilled to become part of this growing, global packaging company,” said Clayton McNeel of Olefinas. “Olefinas has enjoyed tremendous success in our markets, and we are excited to continue our journey with Coveris.”