AMB Spa, San Daniele del Friuli, Italy, a leader in rigid and flexible packaging solutions announces that it has acquired TDX (Europe) Limited, Newcastle (UK). TDX is a market leader in PET, RPET and laminated rigid films for the food and packaging industry.
The acquisition will create a pan-European leader in the rigid and flexible plastic film and packaging solutions market enabling local manufacturing to serve local markets. The business partnership is complementary, creating a one-stop-shop offering of products and services, from tooling and concept design, product specification, print design and application, allowing the group to deliver new products and services to customer needs so that they can create one-supplier relationships with them.
Giles Peacock, COO of AMB, said, “This is a highly complementary acquisition that will help AMB widen our European footprint to be more local to our clients in Northern Europe. We have always had a clear vision, and part of the vision is to create a group that can offer a complete end to end process for food packaging customers. A very exciting time for the market”.
Rolf Liebfried, MD of AMB , said, “Together, AMB and TDX with 70 years of packaging experience, we want to be the driving force supporting our customers in their pursuit for more environmental friendly packaging solutions”.
Mark Prinn, MD of TDX, said, “We are excited to join forces with AMB and believe this partnership will significantly accelerate geographic expansion. The two companies working together in partnership will truly deliver a one-stop-shop that will create strong opportunities worldwide and we look forward to working together”.
By bringing together the two innovative companies, AMB will be creating the foundations for a future powerhouse in the market and further strengthen AMB’s customer-centric business approach with a full service offering. The two businesses share the same vision to develop and manufacture products that are sustainable in the circular economy. Sustainability and food safety will continue to be core to the activities of the new partnership.
The acquisition of TDX (Europe) Limited includes its innovative product design, prototype and tooling business. While continuing to serve its existing local and global customer base, the design and tooling business will offer added value services to existing AMB customers by enhancing AMB’s capability to offer complete packaging solutions.
Bruno Marin, CEO of AMB, said, “We see this as our first major step in our new growth plans. 50 years of AMB has brought us to this point through innovation, talented people and unwavering focus on our defined vision. This is a moment to be both proud and excited as we move into the future”.
The combined company will have an extended reach and portfolio breadth, as well as a broader customer base. Together, AMB and TDX will have 4 sites across Europe plus a network of international distribution warehouses with 430 employees. The combined businesses will turnover in excess of EUR 150 million.
The transaction is supported by a Private Debt instrument where the anchor investor was Finint Investments SGR (Finint Bank Group). Financial terms of the transaction are not disclosed.