Premier Tech strengthens position in rigid packaging market through takeover
Premier Tech’s Industrial Equipment Group (IEG) did not reveal financial details of the takeover but said the food and beverage sector makes up between 10 and 20% of vonGAL’s business.
VonGAL Corporation manufactures and markets rigid packaging palletizing solutions to industries including food, bakery and beverage from Alabama.
It is the second manufacturing facility in the US and adds to the existing four plants IEG has in North America, integrating 80 members to its existing team of 500 people.
Five year strategic plan
The firm said the acquisition is in line with its five-year strategic planning, aiming at intensifying market penetration in various segments and territories.
Jean Bélanger, president and chief operating officer of Premier Tech, told FoodProductionDaily.com they hoped they would bring their market reputation from industrial packaging to the rigid packaging market.
“We aim to be the top player in the industry and the preferred solution to support our customers.
“Our modus operandi is to double our business every five years, whether that’s through organic growth or acquisitions.”
Bélanger said the firm was looking to grow the vonGAL rigid packaging business in dairy, food, beverage and snacks.
“We are an industrial equipment group and vonGAL are big in packaging and we needed the platform to penetrate the market.
“The acquisition enables us to reach vonGAL customers such as Kraft and Coke and gives us more access to fast moving consumer groups,” he said.
“For the last 20-25 years are major growth strategy through acquisition and we are driven by three things.
“Number one for us is to secure a technology platform that we don’t currently master, the second is to move into a new market segment or territory in terms of locations and the third is eliminating a competitor, and vonGAL fall into number one and two of that list.”
Premier Tech offer flexible and rigid packaging, bulk processing and peat moss field equipment offering a variety of solutions for different markets.
VonGAL Corporation is backed by a material handling legacy offering systems solutions, software quality, unmatched experience, exceptional technology and financial strength.