13 December 2012 21:26 [Source: ICIS news]
HOUSTON (ICIS)--US packaging producer Weatherchem has completed its sale to US rigid plastics manufacturer Mold-Rite Plastics, an investment bank said on Thursday.
P&M Corporate Finance served as Weatherchem’s financial advisor in the transaction, which closed on 29 November. P&M did not disclose the cost of the deal.
Ohio-based Weatherchem produces caps, closures, lids and plastic packaging.
The company created the Flapper dispensing closure as a staple packaging product in the spice market, later expanding its technology into the nutraceutical market for vitamins and supplements, P&M said.
Illinois-based Mold-Rite said it also recently acquired Stull Technologies, a New Jersey-based manufacturer of dispensing closures, caps, lids and packaging components.
Stull’s products include the EZ-Safe and EZ Grip lines of ribbed closures, Mold-Rite said.
The two sales are part of Mold-Rite’s expansion plan that includes both organic growth and acquisitions, the company said.
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