MONTREAL — Pretium Packaging LLC has made its first purchase outside the United States, buying blow molder Leabrooke Inc. of Montreal.
St. Louis-based Pretium, which has been on an acquisition tear for more than a year, bought Leabrooke for its strong pharmaceutical packaging business, access to the Canadian market and to strengthen its position in the northeastern United States, President Keith Harbison said in a Dec. 4 telephone interview.
Leabrooke has about US$6.5 million in sales a year, from 13 injection blow molding machines, three extrusion blow molders, one stretch blow molder and four injection blow molders, Harbison said.
Leabrooke began operating in the 1960s as a toolmaker, but its primary business today is blow molding for the pharmaceutical, personal-care and food markets. Leabrooke President John Lipsz will become general manager, while his sisters Katherine Lipsz will be director of engineering and Elizabeth Lipsz will be director of operations, Harbison said.
In the past year, Pretium's acquisitions have included Robb Container Corp. of Naperville, Ill., a Central Can Co. plastics plant in Muscatine, Iowa, and Western Container of Corona, Calif. Leabrooke's Montreal plant will be Pretium's 11th facility.
The company ranked 18th on Plastics News' 1998 sales ranking of North American blow molders, with related sales of $122 million for the fiscal year ended last Sept. 30. That was more than double its $52 million in blow molding sales the previous year, when the firm ranked No. 33.