Winpak Ltd. plans to expand its flexible packaging product line to include form, fill and seal equipment made by W.A. Lane Inc. of San Bernardino, Calif. Winpak agreed in principle to acquire W.A. Lane and W.A. Lane International Inc. for undisclosed terms, the Winnipeg, Manitoba, firm announced Sept. 11. It expects to complete the deal by Nov. 13, with an effective closing date of Oct. 1 coinciding with the start of its fourth quarter.
Craig Sharp, Winpak's director of finance and administration, said W.A. Lane is a profitable business that meshes well with Winpak's production and marketing of packaging films made in Winnipeg and Toronto. W.A. Lane's machinery makes and fills single-service packets for condiments and similar food products.
Sharp said W.A. Lane, a private firm established in 1972, employs about 100, but he would not disclose its sales figures. Winpak's sales will approach C$300 million (US$223.5 million) this year. W.A. Lane officials declined to comment on the deal.
Sharp said Winpak's Portion Packaging business, which makes plastic sheet for single-service containers, also supplies form, fill and seal machinery as part of its product line.
W.A. Lane will operate as a stand-alone business run by existing management, Sharp said in a telephone interview from Winnipeg.