In late June, Oliver Healthcare Packaging announced the acquisition of German-based packaging company EK-Pack Folien GmbH. The announcement was well received by the industry, and our team is excited to begin this journey together. To that end, we sat down with Oliver CEO Mike Benevento to talk about why expansion like this is so important. Here is what he had to say.
PackTalk (PT): Before we dig in, why did Oliver acquire EK-Pack?
Mike: Let me start by saying that this acquisition is something we have been discussing for quite some time. We have been working with EK-Pack for five years now as a supplier, also collaborating with them to develop sustainable packaging materials. The team at EK-Pack is innovative and easy to work with. Every acquisition we make is ultimately about serving our customer base better—delivering the products they need, where and when they need them most. This acquisition adds to our product portfolio, allowing Oliver to be a more complete partner to customers.
Additionally, the Covid-19 pandemic brought supply chain resiliency into clear focus for our industry, highlighting some crucial gaps. This acquisition is just one of the ways Oliver has focused on risk mitigation in our own supply chain. EK-Pack allows Oliver to insource materials like films and foils, offering more control and flexibility to the customers we support.
PT: What does success look like for you with this acquisition?
Mike: Reaction from the people impacted is usually a good initial indicator of success. In the last month, we have heard from employees and customers alike that they are excited about this partnership and the continued success of all involved.
Success is also about broadening our product offering and developing innovative materials to solve important industry challenges. The medical world is evolving quickly, and advancements in medical device technologies, therapeutics, drug delivery systems, and diagnostics have been phenomenal over the past several years. Packaging science needs to keep up with those innovations and this acquisition positions Oliver to do so. We are particularly excited to expand our offerings for pharmaceutical, biologics, and diagnostics customers.
Lastly, EK-Pack also enables Oliver to supply products in region, for region in Europe—which positively impacts our service levels, and improves sustainability, too.
PT: We know you spent time at EK-Pack recently. What was your experience like?
Mike: I spend about six months on the road every year, and I always enjoy spending time with our team—new and old. The team at EK-Pack was very welcoming when I visited in late June, along with about 10 others from Oliver. We spent the day touring the facility, meeting with employees, and getting to know one another. The team is tenured and clearly talented, and we look forward to working more closely with them moving forward. Generally speaking, there was great energy and engagement throughout the day. The team is enthusiastic to learn more about applications for healthcare while continuing to serve their existing customers. We’re off to a great start!