Berry Plastics Corp. of Evansville, Ind., announced May 10 that it had purchased closure injection molder Poly-Seal Corp. of Baltimore. Terms were not disclosed. Berry will gain Poly-Seal's estimated $50 million in annual sales, as the company is now a wholly owned subsidiary of Berry.
According to a Berry news release, Poly-Seal's former Chief Executive Officer Bill Herdrich will continue to work with Berry as a consultant for the closure business. Robert Weilminster, former chief financial officer at Poly-Seal, will become plant manager of the Baltimore facility, in charge of all operations.
Neither Poly-Seal nor Berry officials were available for comment, but Berry President and Chief Executive Officer Martin Imbler said this acquisition will be the foundation for the company's U.S. closure business.
"This is a new market for us, and although it is related to our existing product lines, closures offers an additional growth opportunity as well as the chance to develop innovative new value-added products," he said in a news release.
Berry placed 16th in Plastics News' ranking of injection molders, with $328.8 million in sales last year. That figure included sales from Cardinal Packaging Inc. of Streetsboro, Ohio, which Berry purchased in June.
With about 70 injection presses and compression and lining machinery, the former Poly-Seal will be the primary manufacturing point for Berry's U.S. plastic closure business. Berry also makes plastic closures for European markets at its Norwich, England plant.
Berry is a leading manufacturer of injection molded aerosol caps, closures, beverage cups, containers and housewares.