Tekni-Plex purchases South American closure liner manufacturer Geraldiscos
Geraldiscos manufactures closure liners and induction seals for a wide variety of container types – including PP, PE, HDPE, PVC, and PET – to the South American food, chemical, automotive, and healthcare marketplace.
A subsidiary of U.S.-based packaging and tubing supplier Tekni-Plex Inc. has purchased Brazilian closure liner manufacturer Geraldiscos, which will become part of Tekni-Plex’s Tri-Seal business.
The terms of the deal have not been disclosed.
Founded in 1964 and headquartered in Santana de Parnaiba, a suburb of São Paulo, Geraldiscos manufactures closure liners and induction seals for a wide variety of container types – including PP, PE, HDPE, PVC, and PET – to the South American food, chemical, automotive, and healthcare marketplace.
“[The acquisition of] Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers,” Paul Young, president and CEO of Tekni-Plex, said in a statement. “We have followed the company for a long period of time, and have always been interested in its high-quality innovative products, excellent manufacturing capabilities, as well as a very strong management team.”
Geraldiscos has approximately 140 workers, and Tekni-Plex plans on keeping them all. Additionally, Geraldiscos’s general manager Gabriel Sahyao Leal Dos Santos will continue to oversee the operation.
Geraldiscos is the thirteen acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add-ons. Most recently, Tekni-Plex purchased Italian healthcare packaging company Lameplast SpA in early July.
Headquartered in Wayne, Pa., Tekni-Plex supplies products for such end markets as medical, pharmaceutical, food, beverage, personal care, household, and industrial.