"The Fibro transaction aligns well with Tekni-Plex's existing Dolco Packaging business, and will enable us to create a range of best-in-class sustainable solutions while delivering added customer value," said Jay Arnold, Tekni-Plex senior vice president and general manager, Dolco Packaging. "Our intention is to invest further in this innovative technology platform as we scale up, increase capacity, and expand our product lines to bring superior solutions to the broader fresh foods landscape."

Fibro's advanced pulp technologies are the driver behind a revolutionary, smooth-finish, fiber-based egg carton that allows for easier and more precise package printing, improved product protection, and more streamlined packaging line operation. Its acquisition furthers Tekni-Plex's goal of achieving sustainability-minded, material agnosticism across a broad spectrum of packaging solutions. Combined with its recent acquisitions of Keyes Packaging Group and Grupo Phoenix, Tekni-Plex has significantly strengthened its fiber and paper capabilities and increased its ability to provide innovative ways to better protect products, strengthen brands, and innovate sustainably.

"With these acquisitions, we are building a material agnostic platform from which Tekni-Plex will provide materials-science based solutions that meet our customers' performance and sustainability needs across a variety of substrates," said Eldon Schaffer, CEO, Tekni-Plex Consumer Products. "We believe these solutions will be extremely attractive to the high-growth fresh foods markets, especially on the perimeter of the store."

Source: Tekni-Plex