Investment Group Buys Amcor Twinpak Industrial Packaging Operations
Five plants and 450 employees are involved in the acquisition of Amcor Twinpak North America's industrial flexible packaging activities by a group of investors, led by Schroder Canadian Buy-Out Fund I...
Five plants and 450 employees are involved in the acquisition of Amcor Twinpak North America’s industrial flexible packaging activities by a group of investors, led by Schroder Canadian Buy-Out Fund II. Twinpak’s industrial flexible packaging group (coating and laminating operations), with plants in Langley, B.C., Brantford, Ont. and Cap-de-la-Madeleine, Que., will be renamed Flexia Corp. Also acquired is Fib-Pak Inc., which extrudes and weaves industrial fabrics, and manufactures polyethylene and polypropylene bulk bags, tarps and overwraps, at two plants in Hawkesbury, Ont.
“These activities will be managed as one group with the objective to grow the business in Canada and the United States by targeting higher value-added market niches through internal investment,” says Paul Echenberg, president and CEO of Schroders & Associates. The existing management will form the core of the new team leading the two divisions.
“We feel that by creating a company only involved in coating and laminating, that there are good growth opportunities through rationalizing, through greater involvement in the American marketplace and probably through further acquisitions to round out the operations,” says Echenberg.