Mold-Rite Plastics LLC, an injection molder of rigid packaging products, has acquired caps and closures maker Stull Technologies Inc.
The acquisition will broaden Mold-Rite's product offerings, geographic reach and manufacturing capabilities, according to a Nov. 19 news release.
Terms were not disclosed.
Based in Somerset, N.J., Stull makes dispensing closures, caps, lids and packaging components. Mold-Rite will retain the Stull name to “leverage the substantial brand equity that the company has built over decades,” according to the release.
Stull's vice president of sales and marketing, Jason Stull, said he expects the deal to improve products and services.
Plastics News estimates Stull's North American injection molding business employs about 120 and did sales of about $28 million in 2011.
The acquisition is part of Mold-Rite's larger expansion plan, which includes organic growth and acquisition, the release said.
Mold-Rite, based in Plattsburgh, N.Y., manufactures jars, caps and specialty closures for various markets. The company has about 400 employees at its 400,000-square-foot facility. Its 2011 sales were $73 million, up from $67 million the year before, according to Plastics News estimates.
Private equity firm Irving Place Capital of New York has owned Mold-Rite since 2010.
