WANYE, Pa.—Tekni-Plex Inc. bought Lameplast S.p.A., an Italian health care company, from a Milan-based private equity firm to add expertise in single- and multi-dose packaging to its global films business.
For its 12th acquisition in five years, Tekni-Plex officials said they looked to fill a void in their packaging portfolio.
With its headquarters in Rovereto sul Secchia, which is near Modena, Lameplast manufacturers containers for medical devices and pharmaceutical, veterinary and cosmetic applications with a focus on ophthalmic, vaccine, vaginal and rectal uses.
Lameplast has been in business for more than 40 years and holds numerous international patents.
"We will now be able to offer a rigid packaging solution for prescription and over-the-counter medications and vaccines, in addition to our Tekni-Films flexible packaging options," Tekni-Plex President and CEO Paul Young said in a news release. "These products are one more way we can provide value to healthcare and cosmetic companies around the world."
Terms of the deal with the seller, Aksìa Group, weren't disclosed except that the acquisition adds 130 employees to Tekni-Plex's global workforce of more than 3,000.
Lameplast General Manager Luca Iulli will stay on to head up the operation, which has injection molding, blow molding and injection blow molding along with automatic and semi-automatic filling and sealing machines.
The Lameplast plant has cleanrooms for controlled production environments and complies with European Union regulations to commercialize products in the 32 EU countries.
Tekni-Plex has been driving growth through mergers and acquisitions that add new products or technologies. Most recently, in April, it bought three manufacturing plants from Amcor Ltd.'s Flexible Packaging business unit for $215 million to broaden its portfolio of sterilizable medical device packaging.
Tekni-Plex also develops and manufactures products for the food, beverage, personal care, household and industrial markets at operations in eight countries, including Belgium, China, Cost Rica, Germany, India, Italy, Northern Ireland and the U.S.
With estimated film and sheet sales of $90 million, Tekni-Plex ranks No. 68 among similar North American manufacturers, according to Plastics News' latest ranking.