Plastican, headquartered in Massachusetts, US, produces a range of plastic pails used for packaging industrial and consumer products. The company operates four manufacturing plants located in Leominster, Macon, Dallas and Phoenix, and generated net sales of $90m in 2009. The acquisition was funded with available cash on hand.
Ken Roessler, BWAY’s president and CEO, said: “This business is an excellent fit with the company’s core market add-on acquisition strategy. In addition to sales and market share growth, this acquisition expands our product offering with innovative new products, which further support the company’s goal of positioning BWAY as the premier supplier for rigid general line packaging. We expect to realise significant synergies from this acquisition, including potential future plant rationalisations.”
John Clementi, Plastican’s CEO, also commented on the transaction: “BWAY is the perfect partner to advance the legacy of innovative designs and quality that Plastican has always brought to the marketplace.”
Source: BWAY Holding Company
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