A Tekni-Plex subsidiary has purchased Brazilian closure liner manufacturer Geraldiscos, which will become part of Tekni-Plex's Tri-Seal business.
Headquartered in Santana de Parnaiba, a suburb of São Paulo, Geraldiscos is known for manufacturing i closure liners and induction seals for a wide variety of container types. Closure solutions are provided for market segments such as food, beverage, personal care, health care, agriculture, chemical and others.
"We continue to drive our strategy by growing our business organically and through mergers and acquisitions. Specifically, Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers. 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," said Tekni-Plex President and CEO Paul Young.
The acquisition adds 140 experienced employees to the 3,000-employee global Tekni-Plex team. Geraldiscos General Manager Gabriel Sahyao Leal Dos Santos will continue to oversee the operation.
Geraldiscos is the 13th acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add-ons.