TORONTO - Mega Blow Mould-ing Ltd., a consumer products blow molder in Toronto, has a new owner. Toronto-based Treasury Inter-national Inc. announced June 26 it signed a purchase agreement to buy the 100-employee Mega Blow, which makes containers for the food, pharmaceutical and health and beauty industries.
Treasury International has hired Heritage Capital Corp. of New York to help it secure financing to complete the acquisition.
Bill Sarantos, who founded Mega Blow in 1985, will remain with the company.
Treasury International, whose shares are traded over the counter, is building a core of companies to distribute consumer and industrial products to developing countries in South America and Eastern Europe.
According to a spokesman for Treasury International, Mega Blow will give his company a steady cash flow and a source of packaging for its exported products.
Sarantos said about 70 percent of Mega Blow's current business goes to the United States.
Officials did not provide the number of blow molding machines at Mega Blow.