WAYNE, Pa., June 30, 2021 / PRNewswire / – Tekni-Plex has signed a definitive purchase agreement to acquire Grupo Phoenix that will strengthen Tekni-Plex’s ability to specifically deliver market-driven, customer-centric packaging solutions in the food and beverage industry Beverage markets. The transaction combines Tekni-Plex’s 50-year reputation for operational excellence with the consumer-centric innovation of Grupo Phoenix and supports and enhances Tekni-Plex’s vision of world-class expertise in formulating, processing and manufacturing material-based solutions to achieve the Improve end user experience, protect products and brands, and promote sustainable business decisions. “Grupo Phoenix adds a wide range of capabilities to our consumer products business,” said Brenda Chamulak, recently appointed President and CEO of Tekni-Plex. “The acquisition improves our ability to keep food fresher and longer with sustainable packaging solutions. We are pleased to welcome Grupo Phoenix and its innovative products and employees to the Tekni-Plex family. ”Packaging solutions with capacities in the USA, Colombia and Mexico and customers in over 30 countries. “We are very excited to become part of Tekni-Plex. This deal will enable Grupo Phoenix and our team to grow with our customers. I am particularly proud of our team and look forward to the opportunities that arise from it . The combination of the entrepreneurship and innovation of Grupo Phoenixpo spirit with the global presence and resources of Tekni-Plex has been developed to create a world-class scalable platform for continuous growth, “said Alberto Peisach, CEO of Grupo Phoenix. Grupo Phoenix serves as strategic packaging partner for leading FMCG brands in multiple categories and segments of dairy products, desserts, coffee, beverages, ice cream, soups, spreads, cosmetics and household cleaning services serving over 20 vertical markets. “We started in Colombia and expanded across Latin America. Then, with the unwavering support of our partners JP Morgan and OEP, who believed in a small family business, we entered the US market. Our focused business strategy has enabled us to identify consumer trends early on and react quickly to the market, “concluded Peisach.” This acquisition exploits the strengths of the Dolco, Tri-Seal and Action Technologies divisions by expanding the range of solutions for our Expanding customers, using a wider range of materials for sustainability, and addressing challenges with a consumer-centric mindset, “said Eldon Schaffer, CEO of Tekni-Plex Consumer Products Division.” This deal also allows us to leverage Grupo’s Latin American presence and presence in the region “, added Mr. Schaffer.” Grupo Phoenix brings a complementary culture to our company. We look forward to welcoming you to our team. The employees are energetic, extremely competitive and very focused on creating market-oriented ideas with a Bringing consumer orientation, ”said Ms. Cha mulak. “We have a keen eye for seeing early on how consumers are shopping around the store, including fruit, vegetables, protein, dairy, meat, poultry, fish, as well as the aisle product, single serve coffee. This will continue to be the case . ” Priorities for us, “adds Jaime Lederman, Chief Operations Officer of Grupo Phoenix.” After all, Grupo not only has excellent skills in plastics, including PET and PP, but also in paper and other sustainable substrates, which are incredibly important to our combined businesses as we continue our path towards greater material and technology independence. “The 15th acquisition Tekni-Plex has completed in the last five years and supports its strategy of growing its business through transformative acquisitions and strategic add-ons The acquisition is subject to regulatory approval. Moelis & Company LLC. And Simpson Thacher acted as advisors to Grupo Phoenix, while Ropes & Gray LLP assisted Tekni-Plex. About Grupo PhoenixGrupo Phoenix is one of the fastest growing and most innovative companies for sustainable hard packaging in America Targeted in the commercial food packaging, food service, and disposable industries. Grupo Phoenix follows and supplies customers through a distributed network of five manufacturing facilities: two in Colombia, one in Mexico and two in the United States. Visit Grupo Phoenix at www.GrupoPhoenix.com. About Tekni-Plex, Inc. Tekni-Plex is a globally integrated company focused on developing and manufacturing products for a variety of end markets including medical, pharmaceutical, food, Beverages, personal care, household and industry. Headquartered in Wayne, PA, Tekni-Plex has manufacturing facilities in 10 countries around the world to meet the needs of its global customers. Further information is available at www.tekni-plex.com. View original content to download multimedia: https://www.prnewswire.com/news-releases/tekni-plex-signs-definitive-purchase-agreement-to-acquire-grupo-phoenix-301323694.html SOURCE Tekni-Plex, Inc.
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