US-based South Atlantic Packaging Corporation has acquired Prostar Packaging to strengthen its presence in the food and beverage packaging segment.
The acquisition is also intended to provide expanded capacity and equipment for South Atlantic’s growth through the mid-Atlantic region.
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Financial details of the transaction have not been disclosed.
South Atlantic Packaging vice-president sales and co-owner Pat Grantham said: "As a nimble company that is on the forefront of innovation, we were able to move quickly when the opportunity arose for an acquisition that would assist us in better serving our customers throughout the region.
"We found the business model at Prostar is very similar to the model at South Atlantic. Initial talks began in June 2015, and the acquisition was completed in late January 2016."
Prostar Packaging ex-owner Jim Cash will continue in his role as director of operations.
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By GlobalDataSouth Atlantic Packaging owner Steve Burns said: "The Pennsylvania operation has a state-of-the-art Zambelli LFT800/70 with dual lanes, a piece of equipment that expands our company’s capabilities.
"As we move into the future, we continue to look for possible acquisitions that can help us expand our customer base and capabilities."
Founded in 2006, Prostar Packaging owns a 100,000ft² manufacturing facility and caters to clients such as Del Monte, Big Heart Pet Brands and Benjamin Moore.
South Atlantic Packaging was established in 2000 and employs 150 full-time and temporary staff in the Triad. The company has two Triad facilities with a total area of 200,000ft² along with more locations in Somerset, New Jersey, and now in Pottstown, Pennsylvania.
The company provides packaging solutions to a wide range of retailers such as Costco, Sam’s Club, Walmart, Lowe’s, Target, Home Depot, Gander Mountain and Orvis.
Image: South Atlantic Packaging provides various packaging solutions including gift boxes. Photo: courtesy of Keerati via FreeDigitalPhotos.net.
