Tekni-Plex has completed its acquisition of rigid packaging solutions leader Grupo Phoenix, putting the company in a stronger position to broaden its market-focused, customer-driven innovations, especially in food and beverage markets.

Grupo Phoenix provides both plastic and paper products to global brands in over 20 vertical markets, such as dairy, desserts, coffee, beverages, ice cream, soups, spreads, cosmetics and household cleaning.

Acquiring the Aventura, Florida-based company strengthens Tekni-Plex’s ability to provide solutions for packaging, food service and disposable consumer products. It also bolsters its ability to help brands create game-changing product design.

“Grupo Phoenix is an established player in the consumer products business that adds a broad suite of capabilities to our company,” said Brenda Chamulak, Tekni-Plex president and CEO. “More importantly, we are adding capabilities that enhance our ability to help keep food fresher longer with sustainable packaging solutions.”

“This company has a great eye for how consumers shop the perimeter of the store,” said Eldon Schaffer, CEO of Tekni-Plex Consumer Products Division. “This is an area of special focus for us, as we move forward in serving the food and beverage industry.”

The deal creates synergies with Tekni-Plex’s existing business units, especially Dolco, Tri-Seal and Action Technologies.

“We now have a broader range of materials that assist us as we work to become more material agnostic,” Schaffer said. “Another important aspect is we add so many talented and intelligent people to our team. They have great energy. They are highly competitive and they are very driven to bringing market-focused ideas with a customer orientation to the table.”

“This is an exciting moment for the employees of Grupo Phoenix,” said Jaime Lederman, COO of Grupo Phoenix. “As part of the global Tekni-Plex family, we are joining a world-class organization. Together we will be able to provide even more innovative and sustainable solutions to our customers around the world.”