Scotia Investments and CKF acquire Packright Manufacturing
by CM Staff
Packright will become a wholly owned subsidiary of CKF, and the company will continue to operate in the market under the Packright brand.
HANTSPORT — Scotia Investments Limited together with CKF, Inc. have reached an agreement to acquire Packright Manufacturing Ltd.
Packright will become a wholly owned subsidiary of CKF, and the company will continue to operate in the market under the Packright brand.
The Packright management team and staff are integral to the next stage of growth for Packright, as part of CKF. Colin Chiu will be appointed director – new market development, plastics.
According to the announcement from Scotia Investments, Packright has a proven track record of building and growing markets, designing new products, and operating a lean manufacturing plant.
CKF operates five plants across Canada and two in the U.S. in three material substrates: foam, rPET and moulded pulp. CKF services many of the same customers as Packright and operates in similar markets in North America, so the parties anticipate that this acquisition will offer both companies and the combined customer base benefits of scale, design, and market access.
The combined customer base will also have access to a broader product line, expanded production capacity from CKF’s Delta plant and a vertically integrated supplier when CKF’s extrusion facility in Rexdale, Ont. is operational by December of 2022.
