Pactiv Corp. has bought the remaining 30 percent interest in Mexican thermoformer Central de Bolsas SA de CV, completing its purchase of the company.
The transaction, completed Aug. 8, gives Pactiv complete ownership of the Zapopan, Mexico-based company known as Jaguar. Pactiv purchased 70 percent of Jaguar in October for $66 million and retained rights to buy the rest of the company. Pactiv paid $22 million to acquire the remaining Jaguar shares.
Jaguar thermoforms high-impact polystyrene for cold cups and plates and make PS foam and expanded PS for hot cups for the food-service and packaging markets.
The family-owned business was founded by Carlos Salvador Reynoso and recorded sales of about $95 million for its fiscal 2002, according to published reports.
Lake Forest-based Pactiv has 73 plants in 14 countries. The company ranked first on Plastics News' list of North American thermoformers in 2002, with $1.17 billion in relevant sales.