Tekni-Plex Acquisition Bolsters Food & Beverage Capabilities

WAYNE, Pa., Sept. 23, 2021 /PRNewswire/ -- Tekni-Plex has acquired Keyes Packaging Group from Arbor Investments in a deal that will elevate its ability to provide innovative solutions enabling customers to keep their food products fresher, longer.

Keyes Packaging Group, headquartered in Wenatchee, Washington, is a leading provider of environmentally-friendly, protective packaging for the food and beverage industry. The company is comprised of two diverse companies: Keyes Fibre and Wrap Pack.

Keyes Fibre, also located in Wenatchee, is among a limited number of suppliers that produce molded fiber trays for packaging and shipping apples, avocados, eggs and wine bottles. The company has the largest molded fiber plant on the West Coast, located in North America's largest apple and pear growing regions.

Wrap Pack, located in Yakima, Washington, produces fruit and vegetable specialty-tissue protective wrap for storing and shipping pears, apples and citrus fruit.

The acquisition strengthens Tekni-Plex's offerings to food and beverage industry customers as the company adds to its tray and flat portfolio.

"Once again we have added an incredible resource to the Tekni-Plex family," Eldon Schaffer, CEO of Tekni-Plex Consumer Products division. "Keyes brings market intelligence and a deep material science application knowledge to us, as we continue on our journey to becoming more and more proactive for our customers."

"Adding Keyes to the Tekni-Plex Consumer Products family also gives us a boost in our overall efforts toward providing additional sustainable solutions to our customers. Together with the recently acquired Grupo Phoenix capabilities, our existing Tekni-Plex organization and now with Keyes, we are building a tremendous future for the market, our customers and our employees" Schaffer continued.

Finally, the demand for molded fiber packaging products is expected to rise with increasing consumer pressure demand for more environmentally friendly packaging solutions.

"We are excited to join a company focused on creating next-generation solutions for the market and the opportunities this provides Keyes Packaging employees and customer partners," said Kevin Stangeland, CEO.

Keyes Packaging Group will operate as part of the Tekni-Plex Consumer Products division.

ABOUT TEKNI-PLEX
Tekni-Plex is a globally integrated company that provides innovative solutions through material science and manufacturing technologies. A global leader in the Healthcare and Consumer Product markets, Tekni-Plex provides medical device components and a multitude of material science solutions that lead to a healthier and more sustainable world. Its solutions are found in some of the most well-known names in the Healthcare, Pharmaceutical, Personal Care, Household and Food & Beverage markets. Headquartered in Wayne, Pa., Tekni-Plex employs 7,000 people throughout its operations in Belgium, Brazil, Canada, China, Colombia, Costa Rica, Germany, India, Italy, Mexico, Northern Ireland and the United States. For more information visit www.tekni-plex.com.

SOURCE Tekni-Plex, Inc.

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