MASON, MICH. (May 4, 5:30 p.m. ET) — Dart Container Corp. today completed its acquisition of Solo Cup Co. for $1 billion.
The deal creates a company with estimated combined thermoforming sales of $1.27 billion and total sales of more than $3 billion.
As a family-owned company, Dart is in a position to consider the long-term interests of the combined operations, it said in a news release. It did not say whether the integration will involve consolidation, closings or layoffs.
Lake Forest, Ill.-based Solo has struggled since it bought rival Sweetheart Cup Co. in 2004. The firm had problems integrating the purchased company into its own operations and began losing money.
Mason-based Dart employs 7,600 at 20 production facilities in North and South America, Australia and Europe. It manufactures more than 600 products.
Dart and Solo are major players in plastic and paper single-service goods. Combined, their thermoforming operations total 25 in North America, making cups, plates, cutlery, straws, bowls, takeout containers and goods made with recycled and compostable content.
Solo was the second-largest thermoformer in North America, with estimated related sales of $790 million, according to a recent Plastics News ranking. Dart was the third-largest, with thermoforming sales of $480 million.
Pactiv Foodservice remains the dominant player, with thermoforming sales estimated at $3.2 billion.