Coding And Marking - Sonoco Acquires TEQ For $187 Million

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Coding And Marking - Sonoco Acquires TEQ For $187 Million

Coding And Marking - Sonoco Acquires TEQ For $187 Million

Recently it was announced that Hartsville, SC based packaging giant Sonoco will acquire Huntley, IL based Thermoform Engineered Quality LLC and Plastique Holdings (TEQ) for approximately $187 million in cash from Esco Technologies Inc.  Thermoform manufactures thermoformed packaging for the medical device, healthcare, and consumer markets.

 
TEQ employs about 500 associates with thermoforming and extrusion operations in the U.S., Poland, and the United Kingdom.  In addition to medical device and pharmaceutical sterile barrier packaging systems, the company manufactures thermoformed plastic and molded-pulp-fiber packaging for various consumer goods in Europe.
 
Sonoco's portfolio includes OTC medical products, injection molded vials, thermoformed trays for medical devices, and temperature-secure pharmaceutical packaging (ThermoSafe) among others.  According to president and CEO Rob Tiede, the acquisition of TEQ will allow Sonoco to broaden its growth in healthcare packaging.
 
Ranked on Fortune's World's Most Admired Companies for 2019 at first in the packaging sector, Sonoco employs approximately 23,000 people and operates across 36 countries.  It is anticipated that the TEQ acquisition will be completed by year's end, pending regulatory review.
 
Markem Imaje provides innovative coding and marking systems to the pharmaceutical industry designed to print batch numbers, 2D codes, barcodes and other data on rigid plastic, glass, flexible packaging, and other substrates.

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