Berry Plastics Corp. announced May 14 that it has acquired former rival injection molder Pescor Plastics Inc.
Terms of the transaction were not disclosed.
Berry of Evansville, Ind., stands to gain annual sales of about $28 million from Fort Worth, Texas-based Pescor. Both companies are major injection molders of drink cups and other housewares.
The two companies recently were at odds over a patent on a drink cup. Berry initially filed suit against Pescor for patent infringement on the drink cup design in 1995. The companies reached a $150,000 settlement — in Pescor's favor — following three years of back-and-forth litigation.
Now, according to Berry President and Chief Executive Officer Martin Imbler, the two companies can combine to broaden Berry's reach for injection molded and thermoformed consumer goods.
"It is an important step in expanding our participation in the growing U.S. market for highly decorative and uniquely designed promotional and everyday plastic drink cups," Berry said in a news release. "This transaction gives us the opportunity to offer our customers virtually every size and style of cup for every imaginable application, whether injection molded or thermoformed."
Berry is a longtime injection molder of aerosol caps, closures and other containers. Just last year the company expanded its operations to include thermoforming.
Imbler was not available to comment on whether thermoforming will be integrated into the former Pescor operation in Fort Worth.
Tim Kilpatrick and Kevin Kilpatrick, former co-owners of Pescor, will remain in key management positions within Berry, according to the Berry news release.
Berry reported 2000 sales of $328.8 million.