Thermoformer Peninsula Packaging Co. LLC has expanded its agricultural business by acquiring two plants from Berkley Operations LLC, which does business as Packaging Plus LLC.
Peninsula acquired thermoforming plants in Yakima, Wash., and Hollister, Calif., that complement its operations in Exeter, Calif., and Wilson, N.C., Peninsula spokesman Mark Semer said in a telephone interview.
The acquisition expands Peninsula's stake in berries, salads, and specialty and other produce, Semer said from the New York office of public relations firm Kekst and Co. Peninsula has been a major player in thermoformed packaging for fresh produce and bakery products. The company also does its own sheet extrusion.
“This transaction enhances the service offering for our customers by expanding our geographic footprint and increasing the breadth of our product offering,” Peninsula CEO Ed Byrne said in a Dec. 29 news release. “We are very excited to begin working with the team at the agricultural thermoforming division.”
Packaging Plus retains thermoforming plants at its headquarters in La Mirada, Calif., and in Louisville, Ky., according to Plastics News' data. The firm also does injection molding.
Packaging Plus operated 29 thermoforming lines in 2010. Officials did not disclose how many lines Peninsula acquired.
Peninsula's annual sales are around $85 million. It is a major user of post-consumer PET, using more than 25 million pounds of it in 2010 — about a quarter of its total thermoforming capacity. It also has a large photovoltaic solar farm in Exeter that supplies power to its plant there.
Packaging Plus claims to consume more than 30 million pounds of recycled PET per year, and averages post-consumer content of its packaging at greater than 50 percent, its website said.
Packaging Plus reduces waste through package design and manages more than 35,000 reusable pallets in its global supply chain. Its offshore facilities are in Shenzhen, China, and Amsterdam.
New York private equity firm Odyssey Investment Partners LLC bought Peninsula in early 2010. It is a middle-market investor with about $2 billion under management.
“We have been pleased to support Peninsula's growth over the past two years and are excited to work with management as the company expands its industry-leading position,” said Odyssey managing principal Craig Staub.