- CKF has bought MFT from US-based parent company UFP Technologies
- MFT’s senior management team will stay in their respective positions and continue running the businesses
- The new corporate entity will look to capitalize on the growing consumer demand for more widely recyclable packaging
Scotia Investments-backed CKF has bought Molded Fiber Technologies (MFT) from US-based parent company UFP Technologies. No financial terms were disclosed
MFT designs, manufactures, and distributes environmentally responsible protective packaging solutions for the consumer goods, electronics, and industrial products markets across North America. The new corporate entity will be known as MFT-CFK and will look to capitalize on the growing consumer demand for more widely recyclable packaging. MFT’s senior management team will stay in their respective positions and continue running the businesses.
Hansport, Nova Scotia-based CKF is a manufacturer that offers a range of molded pulp, foam, and PET products to retail consumers, food service operators and the packaging industry.
“We are excited to be joining forces with the team at MFT,” said Ian Anderson, president of CKF. “MFT’s products are complementary to our core competencies. Together, our employees, the products we make and the customers we serve are well aligned and we look forward to working with the team at MFT to support their growth while deepening and broadening our reach into the US market.”
Bedford, Nova Scotia-based Scotia Investments is diversely invested across manufacturing, energy, innovative health and environmental sectors in Canada.
“We are looking forward to our future together and the synergies that will come as a result of this acquisition,” said Randy MacMillan Scotia Investments president and CEO. “We continue to invest in growth opportunities and organizations whose employees and customers value leading-edge sustainable products, long-term stewardship, environmental integrity, and community well-being.”