Altium Packaging LLC, already a major player in plastic bottle blow molding, is acquiring Plastic Industries Inc., a New Hampshire-based company with a network of nine plants across the U.S.
And this is just one of two deals the company has just made.
Plastics Industries makes both high density polyethylene and PET bottles for a variety of applications, including dairy, juice, water and drinkable yogurt.
The company also manufactures food containers from 3.4 ounces to 5 quarts for the foodservice and retail markets for items such as dressings and sauces, marinades, condiments, syrups, flavorings and vinegar. Other markets include industrial chemical, health care and maple syrup.
The company's Sugar Hill Containers unit makes those distinctive plastic maple syrup containers in a variety of sizes.
Plastics Industries has locations in Corona and Fresno, Calif, Hebron, Ky., Janesville, Wis., Mansfield, Texas, Newark, Del.; Poland, Maine, Reading, Pa.; and Turners Falls, Mass.
Along with purchasing Plastics Industries, Altium Packaging also acquired Andersen Plastics near Portland, Ore., the company said.
Altium, based in Atlanta, is the former Consolidated Container Corp., which changed its name in early 2020. And it was just last year that publicly traded investment firm Loews Corp. sold 47 percent of the firm to GIC Private Ltd., a sovereign wealth fund that manages Singapore's foreign investments.
Altium is under the leadership of CEO Sean Fallmann, who issued a statement in response to an email seeking more specifics about the deals.
“Altium has used acquisitions to continue to drive growth and help us fill in geographic gaps in our manufacturing footprint that enables us to more efficiently serve our customers. We are also excited to introduce our DuraLite lightweight packaging solutions to Andersen and Plastic Industries customers. It is a core part of our vision to deliver packaging solutions that help our customers grow their businesses while having less impact on the environment via less materials used and miles traveled,” Fallmann said.
"These acquisitions expand our offerings and increases our bottle manufacturing capabilities throughout key industries and geographies," the company said in a statement. "With these strategic acquisitions, we build upon our existing footprint of manufacturing facilities across North America and the hundreds of products we currently offer."
The company is the No. 4 ranked blow molder in North America on an annual list compiled by Plastics News, with annual estimated sales of $1.55 billion. The company had an estimated 63 locations prior to these latest deals, according to the ranking.
Altium also owns plastics recycler Envision Plastics, which has operations in Reidsville, N.C., and Chino, Calif.
Envision, established in 2001, was purchased by Altium in 2015. The operations have recycled more than 1.5 billion pounds of plastic since inception.