Packaging maker Pregis Corp. has acquired IntelliPack Inc., a polyethylene foam-in-place manufacturer in Tulsa, Okla.
Terms of the deal, which closed Feb. 18, were not disclosed.
IntelliPack's 38 employees will join Pregis, the companies said. According to the companies, their combined 2009 sales were about $820 million.
Todd Hanna, who had served as IntelliPack's president, will become vice president and general manager of Deerfield, Ill.-based Pregis' FIP systems. IntelliPack's Tulsa facility will continue to support the FIP business, which will retain the same brand name.
“Our expertise in FIP technology, coupled with Pregis' people, national footprint and channel-to-market will create an environment for an even higher level of innovation,” Hanna said in a news release.
Kevin Baudhuin, president of Pregis Protective Packaging North America, said the deal will benefit customers in markets including furniture, housewares, electronics, automotive and industrial.
“The acquisition will allow us to accelerate the next generation of FIP product development,” he said in a news release.
Pregis makes packaging for markets including food and food-service, health care, agriculture, automotive, furniture, electronics, construction, fulfillment, catalog and military/aerospace.
For the nine months ended Sept. 30, the publicly traded company reported losses of $10.7 million on sales of $588.6 million. The company ranked 30th in Plastics News' most recent survey of North American film and sheet makers. Pregis operates 47 facilities in 18 countries and employs about 4,000.
Copyright 2010 Crain Communications Inc. All Rights Reserved.
