Leading global packaging company, Coveris, has announced the acquisition of Learoyd Packaging Limited, one of the UK's leading flexographic print specialists supplying flexible packaging solutions to major supermarkets, own brands and food manufacturers and retailers. Terms of the transaction were not disclosed.
Established in 1976, the Burnley-based business, initially supplied paper and plastic bags to the textiles industry, before focusing its strategy on the fast-moving food packaging market to achieve sales in excess of £20 million in 2013. Learoyd's clear business focus and skilled workforce of 180 professionals have enabled the company to build a leading reputation for quality, service and innovation, to deliver long-standing customer relationships with major consumer brands and retailers.
The strategic acquisition of Learoyd will support and strengthen Coveris' UK flexible packaging offering through advanced processes and technologies in addition to providing access to new customer and product markets. Mark Lapping, President of Coveris’ UK Food & Consumer business, "Learoyd has built an enviable market reputation for flexible packaging through its innovative culture, focus on best practice and strong management team. Through our aligned capabilities in flexographic print, Coveris' investment in Learoyd will offer our customers greater access to first-class technology and an extensive knowledge base."
Allan Ferguson, Managing Director, Learoyd Packaging, said, "Over recent years, we have invested in the longterm growth of the company, to develop a state of the art facility with extensive design capabilities as well as training and development for our staff. The backing of Coveris will enable us to deliver accelerated growth in a market which offers considerable expansion and cross-selling opportunities both in the UK and internationally."
This announcement follows Coveris' recent acquisition of St Neots, a leading manufacturer of cartonboard solutions for the food-to-go and convenience markets.
Coveris is the sixth largest global plastic packaging company in the world. Formed by the combination of Exopack, Britton Group, Kobusch, Paccor and Paragon Print & Packaging, the company is an established leader in the development, manufacture, and sourcing of flexible and rigid plastic and paper packaging, as well as coatings solutions for various consumer and industrial end-use markets. With aggregate revenues of more than US$2.8B, the company manages 64 plants across North America, Europe, the Middle East, and China. Coveris is an affiliated portfolio company of Sun European Partners, LLP.