StePac acquired by Johnson Matthey Plc
StePac, which employs around 90 people, is a leading provider of modified atmosphere packaging which works closely with growers and distributors of fresh produce to develop manufacture and supply application-specific products. The business is commercially active in over 60 countries and has manufacturing facilities in Israel and the US.
Atmosphere control technologies for shelf life extension in the fresh produce supply chain is one of Johnson Matthey’s new business areas where there is an attractive market for the development of advanced packaging solutions that can prolong life and thereby reduce food waste.
The acquisition of StePac complements Johnson Matthey’s expertise in functional materials extremely well, bringing post-harvest expertise and IP in the area of polymer based MAP products. In addition, StePac has 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 commercialisation of new technologies.
Commenting on the transaction, 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.”
“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.”
About Johnson Matthey
Johnson Matthey is a global speciality chemicals company underpinned by science, technology and its people. A leader in sustainable technologies, many of the group’s products enhance the quality of life of millions through their beneficial impact on the environment, human health and wellbeing.
Johnson Matthey has operations in over 30 countries and employs around 12,000 people. Its products and services are sold across the world to a wide range of advanced technology industries. www.matthey.com
For more information:
StePac
Tel: +972 4 612 3500
Fax: +972 987 2946
info@stepac.com
www.stepac.com
Issued by: Johnson Matthey, Atmosphere Control Technologies