Packaging company C-P flexible packaging has acquired MRI flexible packaging to expand its production capacity for an undisclosed amount.
MRI flexible is considered to be one of the largest suppliers of polyethylene stretch sleeves in the US primarily for clients from the household chemical, consumer, and beverage markets. Apart from that the company also produces shrink sleeves and roll labels.
Speaking about the acquisition to Packaging World, C-P president/CEO Tony Vaudo said: "This is a strategic step forward for us. We're always looking for ways to offer our customers a higher level of value, service and innovation. MRI is a good fit. We share the same customer-centric culture with a focus on national brands and private label. Beyond the overall increase in capacity, acquiring MRI gives us the redundancy in facilities and the ability to offer additional products lines to our customers.
C-P which primarily focuses on the food industry produces pouches, re-sealable packaging, and shrink sleeves.
Managing director First Atlantic Capital, C-P's controlling shareholder Emilio S Pedroni was quoted by Packaging World as saying: "When we invested in C-P, we knew we wanted to achieve big things in flexible packaging - and acquiring MRI is the first step.
"It substantially increases the range and potential we bring to market. We're particularly excited about the new technology in C-FiT - which is a no-heat shrink sleeve designed for single-serve size bottles."
The current management for the company will remain unchanged after the acquisition. MRI's co-founder Rich Speeney will act as the vice president/general manager.
