Master Plastics has announced the acquisition of the business of Mapflex with effect from 1 October 2018.
Mapflex, which is based in Cape Town, specialises in the supply of modified atmosphere packaging and solutions which extends the shelf life of fresh foods naturally. The customer base extends to growers, packers and retailers of various types of fruits and vegetables. The Perfotec technology, utilised exclusively by Mapflex under license, gives it a distinctive advantage in the market and enables the delivery of a superior product.
General Manager of Peninsula Packaging, Dieter Kreissel, commented that Mapflex complemented the Peninsula Packaging business very well and expands its product offering to the market. “We see the acquisition presenting us with many opportunities to expand our value offering to the combined customer base and to grow our footprint in the food market in general,” he said.
Manley Diedloff, Chief Executive Officer of Master Plastics, added: “As this is our first acquisition since our listing it was important for us to identify and execute on an acquisition that met our strategic objectives and would further present opportunities to benefit from synergies that exist between the businesses – we believe the acquisition of Mapflex will accordingly fulfil all such criteria.”
Further details in respect of the Mapflex business acquired can be viewed on www.mapflex.com.