Liqui-Box Holdings, an American-headquartered liquid packaging company owned by Olympus Partners, has struck a definitive agreement to acquire Maverick, a Cape Town-based engineering firm which manufactures bag-in-box making equipment and designs and manufactures specialty films and laminates for the food and beverage markets.
Commenting on the agreement, Ken Swanson, President and CEO of Liqui-Box said “Combining Maverick with Liqui-Box will be transformational for the bag-in-box market as we fully integrate our various substrates and fitment designs with a best-in-class bag making process into all of our manufacturing plants around the world”.
Maverick was launched in 1999 by Derek Fey and has established an international client base for its bag-in-box bag and pouch making equipment, selling over 80 machines. Swanson welcomed the deal further, noting the depth of Maverick’s engineering talent and the positive impact the acquisition will have on Liqui-Box’s capabilities.
Manu Bettegowda, a Partner at Olympus Partners indicated that the deal represents the first in a series of planned acquisitions for Liqui-Box. Source: Asoko Insight