Coveris boosts global footprint with Elldex acquisition
Monday, June 1, 2015
Plastic packaging giant Coveris has acquired New Zealand-based flexible packaging company Elldex Packaging Solutions, in a deal worth NZ$30m (£14m).
Coveris said the acquisition, which is effective immediately, will increase its global footprint by enabling it to expand into Australasia as well as allowing it to further grow its position within the protein and produce sectors.
Elldex is a manufacturer and importer of high-density polyethylene (HDPE) and low-density polyethylene (LDPE) flexible plastic packaging which offers extrusion, printing, lamination and converting services.
The company, which has 125 staff and a turnover of around NZ$42m (£20m), provides products that serve the meat, dairy, seafood, horticulture and agricultural sectors.
The business, which was previously owned by Hellaby Holdings, will be rebranded as Coveris – Australasia.
Elldex’s management team will all remain in their current roles with general manager Murray Hine now reporting to Chris Wrobel, Coveris' vice-president of global strategy and commercial excellence.
Coveris chief executive Gary Masse said: “We are very pleased to add Elldex Packaging Solutions to Coveris. As the global demand for our products continues to increase, Elldex will allow us to serve our customers in this important region of the world.”
Elldex’s Hine added: “Elldex is a terrific strategic fit for Coveris. We are pleased to be part of this growing packaging company.”