Tekni-Plex Inc. (Wayne, PA) announced today that it has acquired the healthcare packaging, performance lid stock, induction seal and specialty lamination businesses of Oracle Packaging (Winston-Salem, NC), a portfolio company of private equity firm Centre Lane Partners LLC.
Oracle specializes in manufacturing flexible packaging laminates for healthcare, food and beverage and specialty applications. The healthcare packaging portfolio includes pouch stock and sterilizable barrier laminates. Additionally, the company manufactures performance lid-stock products, induction heat seals and specialty lamination structures that target hard-to-hold products and those requiring puncture resistance.
These product lines will become part of Tri-Seal, a Tekni-Plex business known for its range of liners manufactured in a variety of materials ranging from a one-piece induction seal to nine-layer extrusions and laminations. The business unit operates manufacturing facilities in North America, Europe and Asia.
“The addition of the Oracle product lines to our Tri-Seal business unit will enable us to combine our existing liner expertise with complementary specialty packaging offerings. Growing our flexible packaging capability with new lidding and pouch stock products will enable us to provide additional value to our existing customers and penetrate new markets,” said Paul J. Young, President and CEO of Tekni-Plex.
Oracle’s 450,000-square-foot manufacturing facility in Winston-Salem is included in the acquisition. The facility currently employs approximately 170 people.
The Oracle Packaging purchase is the ninth acquisition Tekni-Plex has made in the past four years.