Pretium Packaging LLC is continuing to build out its network of operations, this time by acquiring an Alabama extrusion blow molder.
Chesterfield, Mo.-based Pretium acquired Cox Container LLC, which makes high density polyethylene containers for the food, beverage, dairy and industrial markets in Auburn.
“The acquisition brings additional HDPE manufacturing capability to Pretium and gives us a strategic foothold in the Southeast,” Pretium CEO Paul Kayser said in a statement.
“Additionally, we are aggressively looking to add other exceptional regional companies to our portfolio,” he said.
Cox Container becomes Pretium's 17th location in the United States. The facility includes 13 acres of land, which Pretium said makes the location ideally suited for future expansion.
“Under Pretium ownership, we will now have the ability to offer our customers new products by leveraging Pretium's extensive PET capabilities, as well as a manufacturing footprint across North America,” Cox Container President Ken Cox said in a statement.
The deal for Cox Container is the fifth acquisition Pretium has made during the past four years. The company makes about 2 billion PET and HDPE containers annually.
The Cox Container purchase comes less than two months after Pretium said it was going to expand two locations and close another site. The company is expanding operations at its Carrollton, Texas, and Aurora, Ill., facilities and closing its Walterboro, S.C., PET facility.
Pretium has more than 300 production lines, according to its website. The company serves a variety of markets, including household chemical, sports nutrition, food and specialty beverage, industrial chemicals, and health and beauty.
Pretium was No.14 in the latest Plastics News ranking of blow molders in North America with estimated annual sales of $310 million. Cox ranked 86th with sales of $10 million.