Owing to short shelf life, dairy products are perishable. Thereby, packaging plays an important role in storage and distribution of dairy products. Packaging for dairy products are improving at faster pace and this is driven by rising demands from consumers for robust, convenient as well as lightweight packaging and further by industries for affordable and sustainable packaging material. According to Future Market Insights, the global dairy products packaging market is likely to witness expansion at significant CAGR during 2017-2027. Amcor Limited, DS Smith Plc., Sealed Air Corp., Greiner Packaging GmbH, Sonoco Products Company, General Films, Inc., KOROZO Ambalaj San. Ve Tic. A.S., RPC Group Plc., Bemis Company, and Tetra Pak ITC Ltd. are observed as leading companies in the global market. Some of them are focusing on acquisition to increase their product portfolio.
Sonoco Acquires Highland Packaging Solutions
Sonoco, a diversified global packaging company recently made an announcement that is has acquired Highland Packaging Solutions. Highland is a privately owned company, which manufactures thermoformed plastic packaging for dairy products and fresh produce. This transaction is related to normal regulatory review and is anticipated to close in the second quarter of this year. Highline has been grown from a regional supplier of packaging products into a global packaging company. The company has almost 425 employees operating the manufacturing facility in Plant city manufacturing a total packaging solution for consumers, which includes flexographic printed labels, sophisticated engineered containers as well as inventory management via distribution warehouses in West Coast and Southeast of United States.
Sonoco’s CEO, Rob C. Tiede stated that with the acquisition of Highland Sonoco has considerable strengthened the perimeter of store strategy, catering customer’s increasing demand for natural and fresh foods. Best-in-class and recognized manufacturing and effectiveness in product integration with automated filling machines are likely to add breadth to Sonoco’s increasing produce consumer mix via a dedicated production facility situated in Florida produce market. Further, this provides Sonoco to enter into egg packaging, which is observed as the fastest growing protein source in North America.
Both Sonoco and Highland have their own strengths, with similar passion for struggling for their consumers. Merging of these two companies are likely to enable the best of both the companies to be integrated and serve to consumers. Further this will help Highland improve speed of service and their ability to offer consumers the most diverse packaging solutions and formats in the food packaging industry.
DS Smith Acquired EcoPack and EcoPaper, Romania
DS Smith plc made an announcement of completion of its Euro 208 million acquisition of EcoPaper and EcoPack, Romania. This combined business is a leading integrated paper and packaging group in Romania. This acquisition considerably increases the capacity of DS Smith to cater consumers in in high-growth region and supporting company’s present operations in Eastern Europe.
DS Smith plc is likely to retain only 400 employees and might increase its workforce according to increase in the demand. EcoPaper and EcoPack bring both light-weight papermaking capabilities and high-quality packaging assets, which is likely to strongly help product offerings of DS Smith.
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