Tekni-Plex (Wayne, PA) is set to expand its medical packaging portfolio through the announcement today of the signing of a definitive purchase agreement to acquire three manufacturing facilities from Amcor’s Flexible Packaging business unit.
Located in Madison and Milwaukee, WI, and Ashland, MA, the facilities produce a range of sterilizable medical device packaging substrates including coated and uncoated Tyvek, heat-seal and cold-seal coated paper and films, medical grade laminates, and die-cut lids and labels.
“The acquisition expands our complex packaging solution portfolio for medical device manufacturers, many of whom are our customers today,” said Paul Young, Tekni-Plex President and CEO. “Tekni-Plex’s medical products businesses—Colorite, Natvar and Dunn—have been supplying these same customers globally for decades, and we will continue to deliver on their quality and service expectations. 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,” said Young.
This is the eleventh acquisition Tekni-Plex, a Genstar Capital portfolio company, has made in the past five years.
The closing of the deal is conditioned upon approval by the U.S. Department of Justice (DOJ) and the closing of the merger between Amcor Ltd. and Bemis Co. Inc. The sale of the three plants to Tekni-Plex is expected to resolve DOJ antitrust concerns regarding the Amcor-Bemis merger, according to Seeking Alpha.
In addition to the global medical device and pharmaceutical sectors, Tekni-Plex serves the food and beverage, personal care, household and industrial markets from manufacturing sites in eight countries.