Anchor Packaging Inc. boosted its stake in rigid plastic packaging by acquiring the BonFaire division of Placon Corp. for undisclosed terms.
The Aug. 10 acquisition was Anchor's second in about a month. In July it bought Borden Chemical Co.'s PVC film plants in Brazil and Argentina.
BonFaire makes coextruded, multicolored, hinged-lid containers mainly used by airlines and food-catering services. Although there is some overlap with Anchor products, the deal adds hinged containers and new distribution channels to the firm, said spokeswoman Diana Bowyer. Most of Anchor's rigid packaging is microwaveable polypropylene sold to vending, supermarket and food-service markets, she said in an interview from Anchor's headquarters in St. Louis.
Anchor will move BonFaire production from Placon's Madison, Wis., facility to Anchor's Paragould, Ark., plant by Oct. 1.
David Johnson, Anchor senior vice president of sales and marketing, said his firm acquired a sheet coextrusion line and tooling in the deal. BonFaire's products mainly are based on polystyrene, a material Anchor uses as well as PVC and styrenic blends. Anchor extrudes monolayer sheet that it thermoforms into packaging.
Johnson did not disclose sales of the acquired business or Anchor's rigid packaging sales. He said the deal will allow Anchor to market its packaging to BonFaire customers and vice versa.
Anchor is buying more thermoforming equipment to handle the BonFaire business and to equip its newly acquired South American operations, Johnson said.
Bill Brilliant, who managed sales for the BonFaire business, is joining Anchor as BonFaire's director of sales for airlines and food-service markets. Placon officials were unavailable for comment.