Hopkins Manufacturing Corp. has purchased the assets of Gary Plastic Packaging Corp.'s winter automotive product line. Terms were not disclosed.
Hopkins, based in Emporia, Kan., was itself acquired earlier this year by Harbour Group Ltd. of St. Louis. Hopkins employs 325 and manufactures niche products for the automotive aftermarket, according to a prepared statement issued Dec. 12 by Sam Fox, Harbour's chairman and chief executive officer.
``Both companies are pleased with the result. It was a very friendly kind of sale,'' Gary Hellinger, owner of the Bronx, N.Y.-based Gary Plastic, said in a Dec. 18 telephone interview.
Hellinger, who declined to disclose information about his company, said the product line sold to Hopkins involves injection molded car-care accessories such as funnels, scrapers and squeegees. He said Gary Plastic will focus on its core packaging business at the firm's 300,000-square-foot Bronx facility.
Privately held Harbour Group was founded in 1979 as an investment firm. It owns or retains varying amounts of stock ownership in a range of manufacturing companies, according to a news release. Earlier this month it invested in Plastics Automation Exchange Inc. in Wallingford, Conn., a robotics remanufacturing firm that counts among its customers another Harbour property, auxiliary equipment maker AEC Inc. in Wood Dale, Ill.
The firm claims more than $80 million in capital under management and looks for investments in the $5 million to $25 million range. Since 1994 it has been involved in more than two dozen acquisitions.
The group says it is seeking additional investments in industrial machinery and equipment, industrial chemicals and materials, business products and services, and medical/health-related fields.