Wayne, Pa.-based Tekni-Plex said it completed its acquisition of rigid packaging solutions company Grupo Phoenix. The move puts the company in a stronger position to broaden its market-focused, customer-driven innovations, especially in food and beverage markets.
Aventura, Fla.-based Grupo Phoenix provides both plastic and paper products to global brands in over 20 vertical markets, including dairy, desserts, coffee, beverages, ice cream, soups, spreads, cosmetics and household cleaning. Acquiring the company strengthens Tekni-Plex’s ability to provide solutions for packaging, foodservice products and disposable consumer products. It also bolsters its ability to help brands create game-changing product design, the company said.
“Grupo Phoenix is an established player in the consumer products business that adds a broad suite of capabilities to our company,” said Brenda Chamulak, Tekni-Plex president and CEO. “More importantly, we are adding capabilities that enhance our ability to help keep food fresher longer with sustainable packaging solutions.”