Tekni-Plex Inc., known for a wide-ranging portfolio of plastic products, is acquiring Keyes Packaging Group, a maker of fiber-based packaging products.
The Wayne, Pa.-based company said Keyes, of Wenatchee, Wash., includes both Keyes Fibre and Wrap Pack. Keyes Fibre makes molded fiber trays for apples, avocados, eggs and wine bottles. Wrap Pack makes specialty-tissue protective wrap for storing and shipping pears, apples and citrus fruit, Tekni-Plex said.
"Keyes brings market intelligence and a deep material science application knowledge to us, as we continue on our journey to becoming more and more proactive for our customers," said Eldon Schaffer, CEO of Tekni-Plex Consumer Products division, in a statement. "Adding Keyes to the Tekni-Plex Consumer Products family also gives us a boost in our overall efforts toward providing additional sustainable solutions to our customers."
Tekni-Plex is No. 14 in Plastics News' most recent ranking of thermoformers in North America with an estimated $210 million in sales.