Coveris moves into Latin America with acquisition of Olefinas

Coveris has acquired Olefinas, an agricultural plastics company with operations in Guatemala and Mexico, in a deal that signals the global packaging and coatings company’s entrance into Latin America.

Coveris moves into Latin America with acquisition of Olefinas

Olefinas manufactures packaging for a full range of agricultural products, including tree bags, labels, twine and aging ribbons for the banana industry, as well as mulch and fumigation films, insect traps, modified atmospheric packaging and shrink films. Olefinas produces more than 300 million lbs of high value added products annually that are dedicated to enhancing crop yield.

This is the second new geographic market Coveris has entered in the past six weeks, following the recent acquisition of Elldex, a full-service flexible packaging company in New Zealand.

Entering Latin America supports Coveris’ initiative to provide a full range of packaging options for agricultural products.

‘We consistently look for opportunities to better serve our growing customer base and expand our market reach,’ said Gary Masse, Coveris CEO.

Olefinas uses flexo to produce banana stickers and labels, and employs more than 600 staff across its two locations in Guatemala City, Guatemala and San Luis Potosi, Mexico. Capitalizing on Coveris’ global strengths and Olefinas’ agricultural market expertise, the business is to be rebranded as Coveris-Olefinas.

‘Olefinas is thrilled to become part of this growing, global packaging company,’ said Clayton McNeel, Olefinas CEO. ‘Olefinas has enjoyed tremendous success in our markets, and we are excited to continue our journey with Coveris.’