Flexible liquid packaging manufacturer Liqui-Box has signed a definitive agreement to acquire the flexible packaging division of South African bag-in-box company Maverick Engineering.
Maverick Flexibles designs and manufactures speciality films and laminates for food and beverage markets worldwide.
It is being sold by Maverick Engineering – a manufacturer of bag-in-box bag and pouch making equipment for the international food and beverage industry – though financial details of the transaction have not been publicly disclosed.
Liqui-Box president and CEO Ken Swanson said: “Maverick brings a world-class team of people and game changing innovation around all aspects of the bag-in-box manufacturing and converting process that will immediately take Liqui-Box’s capabilities to a new level. Combining Maverick with Liqui-Box will be transformational for the bag-in-box market as we fully integrate our various substrates and fitment designs with a best-in-class bag making process into all of our manufacturing plants around the world.”
“We are excited to be joining Liqui-Box and share their vision of growing the business with the best people, products and equipment technology available today,” added Maverick Flexibles managing director Derek Fay.
And Manu Bettegowda of private equity firm Olympus Partners added: “Maverick is the first in a series of acquisitions planned for Liqui-Box and aligns with the strategic investments we continue to pursue. The acquisition of Maverick is an ideal fit to Liqui-Box’s portfolio and will be an important contributor to our future growth plans.”
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