Israel-based StePac has announced that it has been acquired by Johnson Matthey Plc, a global player in sustainable technologies.
The transaction, which includes all assets of StePac, is seen as an important step in the development of Johnson Matthey’s Atmosphere Control Technologies business, which sits within the New Businesses Division.
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.
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.
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.”