Drink accessories maker Spirit Foodservice Products Inc. of Andover, Mass., has acquired steam-chest bead molder Master Containers Inc. of Mulberry, Fla.
The acquisition means Master Containers' founders, Tom and Dick Lyons, no longer will be associated with the company they founded in 1969.
``They made a decision to exit the business,'' said Joe Pierro, Spirit's vice president of sales and marketing, in a July 11 telephone interview.
Master Containers makes foam cups and containers from expanded polystyrene beads, and does custom fabrication for customers throughout the Southeast. Master will operate as a separate entity of Spirit, Pierro said.
``Long range, there's potential for us to add technologies from other Spirit facilities,'' he said.
Spirit Foodservice was formed in early 2006 when industry veteran Don McCann teamed up with the management of Spirit Brands Inc. and private equity firm Prospect Partners LLC to buy Spirit Brands, a maker of disposable food-service products. At that time, officials said they planned to grow the firm.
Spirit runs an injection molding and extrusion operation in Dallas and an extrusion operation in Commerce, Calif. It extrudes polypropylene straws and sip-stirs and injection molds PS food-service bar accessories.
``Our business is healthy,'' Pierro said. ``We're expecting a good year. Our strategy was to grow the company through acquisition; this is one step in that strategic process.''
Officials said the combined firms can offer customers expanded product lines and reach new accounts in new channels and geographic markets. Spirit, for example, has specialized custom-print capabilities so products can be branded to improve image and profitability.