COVERIS
Acquisition of flexographic print specialist Learoyd Packaging for an undisclosed sum
US packaging manufacturer Coveris (Chicago, Illinois; www.coveris.com) has acquired UK flexographic print specialist Learoyd Packaging (Burnley / UK; www.learoyd.co.uk) for an undisclosed sum. With annual sales of GBP 20m (USD 33m) in 2013, the company is a smaller acquisition for Coveris, which is owned by the European arm of US private equity investor Sun Capital Partners (Boca Raton, Florida; www.suncappart.com). Coveris last reported sales of USD 2.8 bn (GBP 1.7 bn).
The strategic buy follows Coveris’ recent takeover of another US firm, KubeTech Custom Molding (Pittsburgh, Pennsylvania; www.kubetechmolding.com), and the UK company St. Neots Packaging (St. Neots; www.stneotspackaging.co.uk) – see Plasteurope.com of 19.06.2014.The latter is a leading manufacturer of cartonboard solutions for the UK food-to-go and convenience markets. In June of this year, Coveris also commissioned a new line for "Triplex" compounds at its plant in Neuwied / Germany – see Plasteurope.com of 30.06.2014.
Coveris said the deal with Learoyd will “support and strengthen” its own portfolio by adding advanced processes and technologies. “Through our aligned capabilities in flexographic print, Coveris’ investment in Learoyd will offer our customers greater access to first-class technology and an extensive knowledge base,” said Mark Lapping, president of the company’s UK Food & Consumer business.
Allan Ferguson, managing director of Learoyd Packaging, said his company has developed a state-of-the-art facility with extensive design capabilities as well as in training and development of its staff. “The backing of Coveris will enable us to deliver accelerated growth in a market which offers considerable expansion and cross-selling opportunities both in the UK and internationally,” he said.
Formed through the merger of several European and North American packaging producers in 2011 – see Plasteurope.com of 06.05.2013 – Coveris is the world’s sixth largest global packaging company. It manages 64 plants across North America, the Middle East and China.
The strategic buy follows Coveris’ recent takeover of another US firm, KubeTech Custom Molding (Pittsburgh, Pennsylvania; www.kubetechmolding.com), and the UK company St. Neots Packaging (St. Neots; www.stneotspackaging.co.uk) – see Plasteurope.com of 19.06.2014.The latter is a leading manufacturer of cartonboard solutions for the UK food-to-go and convenience markets. In June of this year, Coveris also commissioned a new line for "Triplex" compounds at its plant in Neuwied / Germany – see Plasteurope.com of 30.06.2014.
Coveris said the deal with Learoyd will “support and strengthen” its own portfolio by adding advanced processes and technologies. “Through our aligned capabilities in flexographic print, Coveris’ investment in Learoyd will offer our customers greater access to first-class technology and an extensive knowledge base,” said Mark Lapping, president of the company’s UK Food & Consumer business.
Allan Ferguson, managing director of Learoyd Packaging, said his company has developed a state-of-the-art facility with extensive design capabilities as well as in training and development of its staff. “The backing of Coveris will enable us to deliver accelerated growth in a market which offers considerable expansion and cross-selling opportunities both in the UK and internationally,” he said.
Formed through the merger of several European and North American packaging producers in 2011 – see Plasteurope.com of 06.05.2013 – Coveris is the world’s sixth largest global packaging company. It manages 64 plants across North America, the Middle East and China.
26.08.2014 Plasteurope.com [229128-0]
Published on 26.08.2014
German version of this article...