Mondi Group plc is building up its flexible packaging business, with an acquisition of United Kingdom-based Excelsior Technologies, and by introducing a new line of recyclable food pouches.
Vienna-based Mondi announced its acquisition of Excelsior for £33 million ($41.1 million) on a debt- and-cash-free basis on Feb. 6.
Excelsior is a producer of flexible packaging systems, and the acquisition is expected to support the group's strategy to further grow its consumer packaging business. It has production in Deeside, Wales, and Nelson, England.
“This acquisition allows us to offer a broader and complementary range of consumer packaging products for food applications,” said Peter Oswald, CEO Mondi Europe & International.
Excelsior, noted the Mondi statement, has a “unique” packaging technology for microwave steam cooking and its product portfolio also includes pouches, roll stock and lidding films.
Mondi also has been building its in-house flexible packaging capabilities and will be premiering its EcoFresh pouch at the Packaging Innovations 2017 trade show in Birmingham, England in March.
The EcoFresh pouch is made only from polypropylene resins, which means it is easier to recycle than pouches made from a mixture of resins.
"The EcoFresh pouch does not contain outer film materials such as polyester, and the specially developed polypropylene laminate used in the construction of this pouch has been designed to have similar properties to that of traditional laminate," said Greame Smith, senior technical manager for Mondi Deeside, in a Feb. 15 news release.
According to Mondi, global demand for food flexible packaging solutions is expected to continue growing, driven by demand for extended shelf-life of fresh and prepared food, the focus on end-consumer convenience, brand enhancement and sustainability considerations.