Johnson Matthey Acquires StePac L.A.
TEFEN, ISRAEL - StePac has announced it has been acquired by Johnson Matthey Plc, a company providing sustainable technologies. The company says the transaction, which includes all assets of StePac, is an important step in the development of Johnson Matthey’s Atmosphere Control Technologies business.
"Under the umbrella of Johnson Matthey, we expect to make major advances in modified atmosphere packaging technology that will bring unparalleled added value to the fresh produce industry,” said StePac’s General Manager Asaf Shachnai. “This represents a springboard for further development of StePac and we look forward to undertaking this challenge and serving our customers with even better packaging products that offer more benefits."
According to a press release, StePac is a provider of modified atmosphere packaging, which works closely with growers and distributors of fresh produce to develop, manufacture, and supply application-specific products. Atmosphere control technologies for shelf life extension in the fresh produce supply chain is one of Johnson Matthey’s new business areas, and the company believes this is an attractive market for the development of advanced packaging solutions that can prolong shelf life and thereby reduce food waste.
Robert MacLeod, Chief Executive of Johnson Matthey, said, "The acquisition of StePac is an important step in the development of our Atmosphere Control Technologies business. The combination of Johnson Matthey’s expertise in advanced materials and StePac’s complementary technical and applications knowledge will enable us to develop new, sustainable technologies for customers in the fresh produce supply chain that prolong shelf life and reduce waste."
StePac is also bringing an established network of relationships across the fresh produce supply chain which will inform future technology and product development. These provide a strong platform of complementary technical skills and market access to enable Johnson Matthey to accelerate the selection, development and commercialization of new technologies.