Coveris announces St Neots Packaging acquisition
Monday, June 16, 2014
Plastic packaging giant Coveris has acquired St Neots Packaging as part of a move to support its continued growth in cartonboard.
St Neots Packaging, which was established in 1994 and has 200 staff based in Wisbech, Cambridgeshire and Hong Kong, manufactures cartonboard products for the food-to-go and convenience markets.
The firm, which supplies film-lined sandwich packaging, cartons and other consumer products to UK retail and foodservice customers, has seen its turnover double in the past five years.
Coveris has made the acquisition to complement its existing cartonboard business and to support continued growth and product development in the market. It says that it will also significantly increase its capacity.
“St Neots provides a hugely exciting opportunity for Coveris, enabling our customers to benefit from increased resources, shared knowledge and enhanced innovation potential,” said Coveris UK Food & Consumer president Mark Lapping.
Coveris UK Food & Consumer employs more than 2,000 staff across 16 sites and has a turnover of more than £400m.
Chairman of St Neots Packaging Andy Ducker said that the backing of Coveris would enable the business to accelerate its growth and share its values of service, innovation and extensive knowledge.
St Neots Packaging recently invested in the UK’s first KBA Rapida 145 large-format press, a move that has increased its cartonboard capacity by around 40%.