Mergers & Acquisition

Leading Rigid Packaging Thermoformer, Placon, Acquires Injection Molder, Plastic Packaging Corporation

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Placon Corporation

6096 McKee Rd., Madison, WI, 53719, USA

Original Press Release

Leading Rigid Packaging Thermoformer, Placon, Acquires Injection Molder, Plastic Packaging Corporation

Press release date: May 5, 2014

Seeking to offer foodservice customers a larger breadth of packaging options to choose from spurs Placon’s latest strategic acquisition.

MADISON, WI  – Placon, one of the leading custom and stock rigid thermoformed packaging designers and manufacturers in North America announced today that it is has completed the acquisition of privately-held, West Springfield, MA rigid plastic container manufacturer, Plastic Packaging Corporation.

Founded in 1954 by Fred Weiss, Plastic Packaging Corporation (PPC) is a family-owned manufacturer known for its high-quality, injection molded Polyethylene (PE) and Polypropylene (PP) containers, cups, tubs, pails and lids as well as its advanced decorating services for hot to frozen foods in the foodservice and food processing industries. “Looking toward the future, combining with Placon is the perfect fit for our customers and employees,” said Susan Weiss Firestone, President.

“Acquisitions are an important part of our long-term growth plans,” stated Dan Mohs, CEO, Placon Corporation. “Many of our customers use both thermoformed and injection molded packaging. By integrating these technologies, we will broaden our food packaging portfolio and provide our customers with more options and greater value.”

Placon offers both custom and stock lines of thermoformed food containers in Polypropylene and recycled PET (RPET) materials. The company currently runs up to 100% post-consumer recycled EcoStar® brand material from bottles and thermoforms in its PET food packaging lines, an area where Mohs sees future opportunity in expanding the company’s sustainability solutions to PPC’s current and future product lines.

The transaction, the second in just two years for Placon, is indicative of the family-owned company’s strategic plan to expand its breadth and depth of capabilities across multiple foodservice market segments. Similar to the 2011 acquisition of Barger, Placon targeted companies with similar core values and a customer-centric culture.

Continued Mohs, “For Placon, it’s about people – our customers and employees. PPC came from similarly humble beginnings as Placon. The strong shared values and closely aligned mission are what makes this acquisition work. Like Placon, PPC is a second-generation, family-owned and operated business with employees who take great pride in the quality of products they produce and exceptional levels of service they provide. We’re delighted to welcome PPC’s 141 employees into the Placon family.”

The 100,000 square foot West Springfield, MA location will bring the total number of Placon operated facilities to 5, which includes the company’s primary headquarters and EcoStar recycling facility situated at its Madison campus location, a distribution center in DeForest, WI and its medical packaging operations headquartered out of Elkhart, IN.

Terms and conditions of the agreement were not disclosed.

ABOUT PLASTIC PACKAGING CORPORATION
Since 1954, Plastic Packaging Corporation (PPC) has been designing and producing the highest quality injection molded containers, tubs, cups, pails and lids for the food packaging industry. PPC’s Value and Classic lines of food containers are industry standards, providing safe seals and strong, durable packaging for non-refrigerated, refrigerated, frozen to hot foods in the supermarket, food processing, dairy, deli and to-go markets. PPC provides exceptional decoration services for its injection molded bases and lids using state-of-the-art technology to create highly branded, distinctive packaging. PPC is headquartered in West Springfield, Massachusetts.

ABOUT PLACON
For over 45 years Placon has been a leading, cutting-edge, custom and stock designer and manufacturer of thermoformed plastic packaging with an extensive line of environmentally-responsible recycled rollstock materials for the retail, food and medical markets. Continuously setting the bar in thermoformed packaging and sustainable material solutions, Placon provides innovative, high quality and safe packaging products that harness the power of tomorrow’s technology and design to solve customers’ challenges today.

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