Genstar-backed Tekni-Plex to buy 3 Amcor plants

Tekni-Plex, a Genstar Capital portfolio company, said April 22 that it agreed to buy three plants from Amcor’s flexible packaging business unit. Financial terms weren’t announced. The facilities—located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts— provide a portfolio 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.

PRESS RELEASE

WAYNE, Pa., April 22, 2019 /PRNewswire/ — Tekni-Plex has signed a definitive purchase agreement to acquire three manufacturing facilities from Amcor’s Flexible Packaging business unit.
The facilities—located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts— provide a broad portfolio 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. 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,” said Paul Young, president and chief executive officer, Tekni-Plex. “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.”
The Amcor manufacturing facilities purchase is the eleventh acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add ons.
The closing of the acquisition is conditioned upon approval by the United States Department of Justice and the closing of the merger between Amcor Limited and Bemis Company, Inc.
About Tekni-Plex, Inc.
Tekni-Plex is a globally-integrated company focused on developing and manufacturing products for a wide variety of end markets, including medical, pharmaceutical, food, beverage, personal care, household and industrial. Tekni-Plex is headquartered in Wayne, PA, and operates manufacturing sites across eight countries worldwide to meet the needs of its global customers. For more information visit www.tekni-plex.com.
SOURCE Tekni-Plex, Inc.