Tekni-Plex announced today that it has signed a definitive agreement to acquire rigid packaging company Grupo Phoenix. The deal will bolster its ability to deliver market-focused, customer-driven packaging solutions, especially in food and beverage markets, said Tekni-Plex. This is the 15th acquisition in the past five years for the Wayne, PA-based company.
“Grupo Phoenix adds a broad suite of capabilities to our consumer products business,” said Brenda Chamulak, Tekni-Plex President and CEO. “The acquisition enhances our ability to keep food fresher and longer with sustainable packaging solutions.”
Grupo Phoenix specializes in innovative and sustainable custom rigid packaging products. It has operations in the United States, Colombia, and Mexico and has customers in more than 30 countries. “Combining Grupo Phoenix’s entrepreneurial and innovation spirit with Tekni-Plex’s global footprint and resources is designed to create a first-class scalable platform for continuous growth,” said Alberto Peisach, CEO of Grupo Phoenix.
Grupo Phoenix serves as a strategic packaging partner to leading fast moving consumer goods (FMCG) brands across multiple categories and segments, serving more than 20 vertical markets. “We started in Colombia and expanded throughout Latin America. With the unwavering support of our partners, JP Morgan and OEP, who believed in a small family company, we entered the US market. Our focused business strategy has allowed us to identify consumer trends early and respond quickly to the market,” said Peisach.
The acquisition plays to the strengths of Tekni-Plex’s Dolco, Tri-Seal, and Action Technologies business units by leveraging a broader range of materials for sustainability and approaching challenges with a consumer-driven mindset, said Eldon Schaffer, CEO of Tekni-Plex Consumer Products Division. “This deal also allows us to leverage Grupo’s footprint in Latin America and expand our presence in the region,” added Schaffer.
“We have a great eye for identifying early how consumers shop the perimeter of the store, including fruits, vegetables, proteins, dairy products, meats, poultry, and fish, as well as the center aisle product, single-serve coffee,” said Jaime Lederman, Chief Operations Officer at Grupo Phoenix. “These will continue to be areas of special emphasis for us. Finally, Grupo not only has great capabilities in plastics, including PET and PP, but also paper and other sustainable substrates, which will be incredibly important to our combined businesses as we continue our journey to being more material and technology agnostic.”
Tekni-Plex serves a range of end markets, including the medical, pharmaceutical, food, beverage, personal care, household, and industrial sectors. It operates manufacturing sites across 10 countries.