Contract Packaging Market
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October 2023- A leader in supply chain, dedicated transportation, and fleet management solutions, Ryder System, Inc., reveals that it is debuting into a definitive contract in the third quarter for the acquisition of the outstanding equity of IFS Holdings, LLC, also famous as Impact Fulfillment Services (IFS). IFS has expertise in contract manufacturing, warehousing, and contract packaging for some of the biggest and best-known consumer brands across the United States, mainly in the retail, consumer packaged goods (CPG), and healthcare industries. As a fraction of the deal, Ryder will acquire nearly 15 operations across Utah, California, Texas, Florida, Pennsylvania, Georgia, Ohio, North Carolina, and Illinois. The deal is projected to add around USD million in yearly net revenue to Ryder's supply chain solutions business segment and be accretive to stockholders. IFS and Ryder anticipate concluding the deal in early November 2023, subject to approval of antitrust agreements and customary closing situation. The president of supply chain solutions for Ryder, Steve Sensing, said that the deal backs Ryder's plan to boost up the development of the supply chain business, offering the company new capabilities that are complementary to their present suite of services. He further added that, at first, the co-packaging and co-manufacturing services will add to their CPG vertical; on the other hand, the company sees substantial opportunity to leverage these new capabilities across other industry verticals.
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October 2023- SVB Foods happily disclosed the acquisition of Vita Specialty Foods. SVB Foods is a reliable contract packaging food producer studying savory condiments like salad dressings, sauces, and marinades. Vita Specialty Foods provides a range of food products through licensing agreements, private labeling, and its brands, such as the nationally acclaimed Virginia Brand Vidalia Onion Vinaigrette. Customer satisfaction.
List of Key Companies Covered in the Contract Packaging Market Report are:
- WestRock (US)
- FM Logistics (India)
- GXO (US)
- CEVA Logistics (France)
- Sonoco (US)
- FedEx (US)
- DB Schenker (Germany)
- UPS (US)
- Kuehne + Nagel Logistics (Switzerland)
- DSV (Denmark)
- Geodis (France)
- Deufol (Indiana)
- Menasha (WI)
- Solistica (Nuevo Leon)
- IPS (UK)
- Hopi (Czech Republic)
- Marvinpack (Switzerland)
- Truvant (North Carolina)
News
In July 2022, CMA CGM Group has recently acquired GEFCO. CMA CGM Group is a global player in sea, land, air, and logistics solutions. The company serves more than 420 ports around the world across 5 continents. This acquisition will enhance the company's logistics service globally.
September 2023: ProAmpac, a leading contract packaging provider, announces the launch of its "Connected Packaging" platform, which uses IoT sensors to track products in real-time throughout the supply chain. This technology offers improved visibility and control for brands and retailers.
November 2023: Sealed Air, another major player in the market, unveils its "SmartLife" packaging solution, which utilizes RFID tags to provide consumers with product information and track authenticity. This innovative approach enhances brand engagement and combats counterfeiting.
In July 2022, GEODIS has completed the acquisition of Keppel Logistics. This transaction will consolidate GEODIS contract logistics footprint and e-commerce fulfillment services in Asia-Pacific, particularly Singapore.
In March 2021, DB Schenker completed the full acquisition of SIGNON Deutschland Gmbh on March 31, 2021. This will help the company to secure expertise for projects such as the construction of digital interlockings and track equipment with the European Train Control System.
In June 2021, FM Logistic developed its operations by another 30 lakh sq ft by the end of 2022-23. It will establish its own warehouses in the country's major consumption areas, such as Mumbai, Bengaluru, Hyderabad, Chennai, and Delhi.
In August 2022, CEVA Logistics is connecting commerce in Bahrain and across the Middle East through its new direct facility present in Manama. The new office will offer a full range of air, ocean, ground, and contract logistics services.
