Coveris Holdings has acquired Olefinas, an agricultural plastics company with operations in Guatemala and Mexico.
Entering Latin America supports Coveris’ initiative to providing packaging solutions for agricultural products.
This is the second market Coveris has entered in the past six weeks, following the acquisition of Elldex, a flexible packaging company in New Zealand.
Olefinas manufactures packaging solutions for 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.
Since 1959, the company has been the pioneer of banana plastics and produces more than 300 million pounds of high value added products annually to enhance crop yield.
Olefinas has more than 600 employees in its two locations in Mexico.
The Latin American-based operation will be rebranded as Coveris-Olefinas.
