“We are not done buying at all,” Kayser said. “Inside Pretium, we have a team to focus on identifying targets, typically with only a few locations.” Kayser noted that Pretium has a broad portfolio of preform designs and a strong capability to provide innovative solutions to customers for specific applications.
Packaging firm Pregis LLC of Deerfield, Ill., made a pair of second-half deals, both in September. The firm first bought 3M Co.'s temporary protective films business. Officials said that acquisition is a chance to add a $50 million strategic operation. Pregis already was in the protective films business through its Surface Guard brand.
The deal includes about 90 workers who work in the business in Conover, N.C., as well as field-based workers, the companies said. The acquired business provides adhesive-backed temporary protective films for what is described as a “broad range of industries, including automotive, appliance, metalworking, building and construction.”
Pregis then acquired paper-based protective packaging maker Easypack Ltd. of Stevenage, England. Even though Easypack is focused on the paper market, Pregis officials said the acquisition is a way to also expand its sale of inflatable plastic packaging products in Europe. Easypack also has offices and distribution centers in France and Germany.
Sigma Group — a steady presence in plastics M&A — on Sept 30 announced that it was acquiring Alliance Barrier Films LLC of Washington, Ind., and would integrate Alliance into its ISOFlex Packaging Division.
Alliance “is a very strategic location with a lot of synergy with ISOFlex,” Sigma President Alfred Teo told Plastics News. “We had been looking at Ohio or Indiana for a new plant for three years until this fell into our lap.”
Alliance will continue manufacturing at Washington and the firm's founder and CEO Tom Huff will continue as managing partner. Teo said Alliance currently has 20 million pounds per year of specialty film production using EVOH and nylon layers for converter markets where hot-fill and barrier properties are required.
The Alliance deal is the 11th since 2009 for Pompano Beach, Fla.-based Sigma, but its first since acquiring Tara Plastics Corp. in May 2015. Sigma is North America's third largest plastic film and sheet maker, according to Plastics News, with annual sales estimated at $2.35 billion.