Chicago-based Coveris acquired UK-based St. Neots Packaging Ltd. as part of a strategic move to support their continued growth in cartonboard packaging.
Supplying film-lined sandwich packaging, bespoke cartons and other consumer products to UK’s major retail and foodservice customers, St. Neots’ revenue has doubled in the last five years.
“St. Neots provides a hugely exciting opportunity for Coveris, enabling our customers to benefit from increased resources, shared knowledge and enhanced innovation potential,” says Mark Lapping, president of Coveris’ UK food and consumer business. “As a great addition to our existing cartonboard operation, the move enables us to provide a dedicated packaging offering to better serve customers in both FMCG cartonboard and food-to-go packaging markets.”
The strategic acquisition supports Coveris’ long-term plans for growth in new and existing markets, with a particular focus on the growing convenience and food-to-go sectors. The two St. Neots’ facilities in Cambridgeshire and sourcing office in Hong Kong complement Coveris’ existing cartonboard operation in Wisbech, Cambridgeshire.
“The backing of the Coveris group marks a major development for St Neots and enables the business to accelerate growth to its next phase,” says Andy Ducker, St. Neots chairman. “With Coveris’ experience, shared values of service and innovation and extensive knowledge of our products, the acquisition provides a very exciting opportunity for our staff and customers to grow.”
This announcement comes just days after Coveris integrated KubeTech Custom Molding to bolster the company’s rigid packaging offering to North American customers.