Coveris
| Company type | Private |
|---|---|
| Industry | Flexible Packaging |
| Founded | May 2013 |
| Headquarters | Vienna Austria |
| Products | flexible packaging, paper packaging, films, labels, board |
| Website | coveris.com |
Coveris is an industrial company with an operating unit in Vienna and owned by Sun Capital Partners, a private investment firm. Coveris is headquartered in Vienna and has 29 facilities located in Germany, France, the UK, Austria, Hungary and Egypt. It manufactures paper- and plastic-based flexible packaging for some brands. The company develops packaging for several types of products: food, pet food, medical devices, and industrial and agricultural products.
History
[edit]In 2018, Coveris sold its packaging business in the Americas to Transcontinental, Inc for $1.320 billion in order to pay debts. After the sale, Coveris had 44 facilities across 14 countries.[1]
Also in 2018, Coveris announced the sale of its Global Rigid Business to Lindsay Goldberg LLC for €700 million. After the sale, Coveris had 25 facilities in 5 countries and over 3,800 employees. According to the company, the purpose of the sale was to "strengthen our balance sheet and fully focus Coveris on the flexible packaging market".[2]
References
[edit]- ^ Farhatha, Ahmed (2 April 2018). "Transcontinental beefs up packaging business with $1.32 billion Coveris deal". Reuters. Retrieved 28 June 2021.
- ^ "Announcement from Coveris Holdings S.A. Regarding the Sale of its Global Rigid Business". Business Wire. Business Wire, Inc. 30 April 2018. Retrieved 28 June 2021.