Tekni-Plex Inc. is moving into the South American closure liner business with an acquisition in Brazil.
The Wayne, Pa.-based company is buying Geraldiscos in suburban São Paulo, a maker of closure liners and induction seals for both plastic and glass containers.
"We continue to drive our strategy by growing our business organically and through mergers and acquisitions," Tekni-Plex CEO Paul Young said in a statement.
"Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers," he continued.
Tekni-Plex has kept its eye on Geraldiscos "for a long period of time," the CEO said, citing an interest in its products, manufacturing approach and management.
Geraldiscos becomes part of Tekni-Plex's Tri-Seal unit.
Key markets for the new acquisition include agriculture, beverage, chemicals, food, beverage, healthcare and personal care, the company said.
The company, Tekni-Plex said, "is known for its sustainable manufacturing practices including use of recycled-content materials."
Geraldiscos was founded 55 years ago by the Leal Dos Santos family, and Gabriel Sahyao Leal Dos Santos will continue overseeing the business as general manager, Tekni-Plex said.
A total of 140 employees work at Geraldiscos, which is Tekni-Plex's 13th acquisition in five years.
Tri-Seal is just one of several, varied business units owned by Tekni-Plex. The company's varied products also include foam egg cartons, dispensing systems, films, medical tubing and medical grade compounds.
Tekni-Plex is owned by Genstar Capital, a San Francisco-based private equity firm that also owns rigid container maker Pretium Packaging LLC.