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Topics Mergers & Acquisitions, Europe, United States, Food packaging, Film & Sheet
Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost its European offerings.
Learoyd, based in Burnley, England, had 20 million pounds ($33 million) in sales during 2013 and makes flexible packaging for a range of top British retail brands including Seabrook Crisps, Waitrose and Marks & Spencer.
Chicago-based Coveris did not disclose terms of the deal, announced Aug. 21. The company was formed in 2013 with the combination of six global packaging companies.
It marks the company’s second acquisition in the United Kingdom this summer, following up on the June purchase of St. Neots Packaging Ltd., a maker of plastic film-lined food packaging. Coveris also has invested in increased production equipment and capacity for flexible packaging at its plant in Neuwied, Germany.
Coveris now has 64 plants across North America, Europe the Middle East and China with global revenues of $2.8 billion. It says it is the sixth largest packaging company in the world.
Adding Learoyd to its portfolio brings both “aligned capabilities in flexographic print,” and access to new customers, said Mark Lapping, president of Coveris’ UK food and consumer business unit in a news release.
For Learoyd and its 180 employees, Coveris brings additional opportunities for growth with sales in both the UK and internationally, said Allan Ferguson, managing director of Learoyd.