Plastic packaging and coatings company Coveris Holdings has acquired Elldex Packaging Solutions, a division of Hellaby Holdings, with packaging businesses in New Zealand and Australia.
Elldex manufactures and imports HDPE and LDPE flexible plastic packaging for meat, dairy, seafood, horticulture, and agricultural sectors.
The firm is an amalgamation of three flexible packaging businesses, Elldex, PPL and Chequer, purchased by Hellaby between 2003 and 2007.
All the 120 employees of the company will now work for the new owner.
The New Zealand-based firm is building a new flexible packaging facility in Chirstchurch to replace the existing extrusion, printing and conversion plant.
The 5,000m2 new plant will include a Windmoller & Holscher 3-layer co-extruder and 8-colour central impression printing press, a solventless laminator, and a high-speed, automatic slitter.
Elldex general manager Murray Hine said: "With Elldex’s revenues now growing across both businesses, and with our new state-of-the-art factory in Christchurch nearing completion, this is a most exciting development for Elldex.
"We are combining the best of Australasian flexible packaging supply with one of the biggest and fastest growing international flexible packaging companies, bringing new technologies, process improvement, global customers and scale in our supply arrangements."
Coveris owns 65 plants across North America, Europe, the Middle East, and China. It has an annual revenue of around $3bn.
Coveris CEO Gary Masse said: "As the global demand for our products continues to increase, Elldex will allow us to serve our customers in this important region of the world."
Image: Elldex is building a new plant in Chirstchurch. Photo: courtesy of Elldex Packaging Solutions.