Page 37 - Plastics News May 2021

Business news

Coveris acquires Four04 Amcor invests in ePac Flexible

Packaging Packaging

ustria-based industrial onsumer packaging firm
Acompany Coveris has CAmcor has announced a
acquired British flexible strategic investment in US-
packaging company Four04 based packaging firm ePac
Packaging. The strategic Flexible Packaging. In what
deal will allow Coveris to will be Amcor’s first corporate
expand its UK presence and venture-type investment,
enhance its manufacturing the company will invest from
capacities. A former privately around $10m to $15m in ePac
owned company, Four04 is as well as providing financing
involved in flexible packaging for one or more of its sites.
manufacturing and supplying packaging materials for Amcor Strategic Development executive vice-president
various industries. It focuses primarily on packaging Ian Wilson said: “ePac is a truly entrepreneurial
solutions for fresh food, produce and bakery applications. technology-driven company and has proven its ability to
Coveris CEO Jakob Mosser said: “With Four04, we have scale up a flexible packaging business rapidly, doubling
found another excellent partner for our growth plans. revenues each year since its formation in 2016. “This is
“Four04 is a profitable business with a well-established an exciting opportunity for both companies to benefit
and strong customer base and excellent packaging from the combination of innovative technologies and
solutions, that will provide us with opportunities to business models and the deep expertise of an industry
further strengthen our offering in these segments.” leader. “We look forward to working with the ePac
The financial details of the transaction have not team and exploring opportunities to further extend
been disclosed. Coveris implemented a permanent this partnership in the future.” Amcor CEO Ron Delia
market screening process before selecting Four04 as a said: “We are incredibly proud of Amcor’s innovation
suitable partner to support its strategic growth targets. and research and development (R&D) capabilities,
Headquartered in Vienna, the company produces flexible but with our scale and global footprint, we are also
packaging solutions for various markets, including food, uniquely positioned to supplement our internal efforts
pet food, medical devices, industrial and agricultural with investments in complementary technologies and
applications. It currently operates 28 sites in the Europe, business models.” In January, Amcor became the first
Middle East and Asia (EMEA) region and employs a total global diversified packaging company to report to
of 4,100 people. In March, Coveris purchased UK-based the Sustainability Accounting Standards Board (SASB)
bag manufacturer Initial Packaging as part of an ongoing packaging standard. SASB standards are designed to
strategic expansion. Initial Packaging supplies tamper- help businesses benefit from greater transparency and
evident packaging products used by companies of all improve risk management while offering an accurate
sizes in various markets, including the security, logistics, view of their sustainability performance to investors,
post and e-commerce sectors Last September, the connecting companies and investors on the financial
company acquired HLB|SFV, a company specialising in impacts of sustainability. ePac specializes in producing
manufacturing and selling various shapes of. paper bags flexible packaging for high quality, short-run length
and paper-based flexibles on reels, for an undisclosed digital printing. The company uses a ‘unique, digitally
amount. The company’s acquisition of HLB|SFV was enabled and scalable’ business model to cater to
part of a strategy to invest in regions, capabilities small and medium-sized consumer goods customers
and products with high potential. It was intended to worldwide. It currently operates 18 facilities, with a
increase the company’s paper bag production capacity further five sites in development, and generates annual
and strengthen its sustainability offering. revenues of around $100m.

37 May 2021 Plastics News