“Grupo Phoenix adds a broad suite of capabilities to our Consumer Products business,” said Brenda Chamulak, president and CEO of Tekni-Plex.
“The acquisition enhances our ability to keep food fresher and longer with sustainable packaging solutions. We are excited to welcome Grupo Phoenix and its innovative products and people to the Tekni-Plex family.”
Grupo Phoenix manufactures rigid packaging and specializes in innovative and sustainable custom packaging solutions with facilities in the US, Colombia and Mexico and customers in more than 30 countries.
“We are thrilled to join Tekni-Plex. This deal will allow Grupo Phoenix and our team to continue to grow with our customers. I am especially very proud of our team and excited for the opportunities this will bring. 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 is a strategic packaging partner to FMCG brands across multiple categories and segments such as dairy, desserts, coffee, beverages, ice cream, soups, spreads, cosmetics and household cleaning, serving over 20 vertical markets.
“We started in Colombia and expanded throughout Latin America; then with the unwavering support of our partners, JP Morgan and OEP, who believed in a small family company, we entered the United States market. Our focused business strategy has allowed us to identify consumer trends early and respond quickly to the market,” Peisach said.
“This acquisition plays to strengths of Dolco, Tri-Seal and Action Technologies business units by expanding the range of solutions we offer our customers, 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.
“We have a great eye for identifying early how consumers shop the perimeter of the store including fruits, vegetables, proteins, dairy products, meats, poultry, fish, as well as the center aisle product, single serve coffee. These will continue to be areas of special emphasis for us,” said Jaime Lederman, chief operations officer at Grupo Phoenix.
“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.”
This is the 15th acquisition Tekni-Plex has completed over the past five years.
The closing of the acquisition is conditioned upon regulatory approval.