In line with its strategic growth targets, Coveris announces the acquisition of Initial Packaging Ltd, a profitable and stable business specialised in the production of speciality bags.
With the global specialty packaging market experiencing continuous and solid growth rates – notably in E-commerce, hygiene, pharma and medical packaging - Coveris has seized the opportunity to acquire the UK based company which specialises in protective, tamper evident and customised packaging for security, logistics and diagnosis applications. With this acquisition Coveris gains access to new markets & distribution channels, as well as expanding its product portfolio and manufacturing capability in this highly attractive area.
“After a long and extensive search for an ideal partner, we are delighted to welcome Initial Packaging in the Coveris family. Initial Packaging supports our growth strategy in high performance speciality bags. Alongside food and pet food we will realise further growth in the hygiene, pharma and medical segment. This product group is a perfect example of how plastics can show its superior performance in a convincing and sustainable way.” comments Jakob A. Mosser, CEO Coveris, on the deal.
About Initial Packaging
Initial Packaging Solutions Limited supply a wide range of packaging products tailored to suit any size of organisation. Their tamper evident packaging products are used by a range of customers and markets to protect and securely transport goods worldwide, including security, logistics, mailing/courier and e-commerce.
Coveris is a leading European packaging company that manufactures flexible packaging solutions for some of the world's most respected brands. We develop packaging that protects all types of products - from food to pet food, from medical devices to industrial and agricultural products. Through our broad level of technical expertise, our high-quality packaging extends the shelf life of products hence helping to reduce waste and resource wastage. Together with our customers we are constantly working on new attractive and sustainable packaging solutions. Coveris operates 28 sites in the EMEA region with 4,000 employees. Coveris Group is headquartered in Vienna, Austria.
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