Exopack Holdings S.A., formed in May by the combination of five packaging companies in North America and Europe, unveiled "COVERIS" as the organization's new name. COVERIS is the sixth-largest global plastics packaging company, with revenues in excess of US$2.5 billion and operations in 21 countries. The company, an affiliated portfolio company of Sun Capital Partners, Inc., produces flexible and rigid plastic and paper packaging, as well as advanced coatings.
"Today's rebranding announcement marks an important milestone for us, signifying the successful integration of five packaging companies into a global industry leader," said Jack Knott, CEO. "More than a global business, COVERIS is a 'multi-local' business partner, close to our customers in many regions and markets around the world. We're confident that the COVERIS name will become synonymous with our passion for excellence in high-performance packaging products that add value to our customers' products and businesses."
The selection of COVERIS comes after a thorough process to create a new brand identity that would differentiate the company in the marketplace, the company says. The new COVERIS graphic identity and website will be rolled out over the next few months.
In May 2013, US-based Exopack joined with four European packaging companies-Britton Group, PACCOR, Kobusch, and Paragon Print & Packaging. The combined businesses have operated as one global entity under Exopack Holdings S.A., although the five brand names remained in use. Going forward, the COVERIS brand will ultimately be used for all of the company's operations.
COVERIS also implemented a new organizational structure to optimize delivery of service to global customers and enhance the company's investments in technologies and people. The Global Flexibles business is now organized in two markets, Europe and North America, with three main product lines: Food & Consumer, Industrials and Advanced Coatings. The Global Rigid business is organized by geographic markets serving mainly customers in Europe.
"Uniting all of our operations as COVERIS is much more than just a name change," said Michael Cronin, CEO of the Global Flexibles business. "It enables us to more efficiently deploy our technology and capabilities to our customers in every market, and is a clear indicator of our commitment to upholding the highest standards of excellence in all of our working relationships."
Since combining, the companies that now comprise COVERIS have integrated back-office functions and have made new investments to strengthen the company's IT infrastructure. The businesses recently unified under a single financial structure.