Triangle Plastics Inc., a custom heavy-gauge thermoformer, has acquired assets of Bigelow Packaging Division, which markets plastic pallets.
Bigelow, based in Charlotte, N.C., has been a sales representative for Triangle's products. Bigelow recently has relied on Triangle as the major manufacturing source for its thermoformed plastic pallets.
``It makes a lot of sense,'' Triangle spokeswoman Lynn Osterhaus said of the deal. ``It's a good partnership.''
Terms were not disclosed.
Bigelow's pallets are made from high density polyethylene for the apparel, yarn, textile, pharmaceutical, beverage, food and microchip industries.
In March, Triangle and Bigelow entered a manufacturing and marketing alliance through 2000. Bigelow develops stock and custom dunnage products and owned some of the tools Triangle used to make pallets in that previous alliance.
``This is a great opportunity for Bigelow Packaging and Triangle Plastics to continue the relationship and will certainly be in the best interests of our customers,'' said Bigelow Packaging President William Cannon in a news release.
Chairman James Blin, who founded Triangle in 1965, called the acquisition ``important for the continued growth of the material-handling segment of our business.''
Triangle has seven plants in six cities: Independence, Iowa, where Triangle is headquartered; Winthrop and Oelwein, Iowa; Cookeville, Tenn.; Auburndale, Fla.; and Portage, Wis.
The firm employs more than 700.
Triangle reported 1997 sales of $72.5 million.
The company was the third-largest industrial thermoformer in North America, according to Plastics News' 1997 ranking.