In the plastics universe, it turns out that Mercury can actually be bigger than the Sun.
An affiliate of Sigma Plastics Group called Mercury Plastics is acquiring the assets of Sun Plastics Inc., a blown film extruder in Commerce, Calif.
News of the deal came Feb. 3 from merger and acquisition firm Blaige & Co. of Chicago, which represented Sun Plastics in the deal.
"Mercury Plastics is a highly successful local player that truly understands our market. With the experience and resources of Sigma, the combination of Sun Plastics and Mercury is unmatched in the marketplace," Sun Plastics owner Vahan Bagamian said in a statement.
Mark Teo, CEO of Sigma Plastics, said Feb. 3 his company was not issuing details about the deal at this time.
Sun Plastics is an extruder and converter of low density polyethylene bags and films founded in 1979.
"Sigma is the perfect partner for Sun Plastics, providing a well-structured succession plan for ownership, long-term security for the workforce, and expanded opportunities for its customer base," said Thomas Blaige, CEO of Blaige & Co., in a statement.
His company provided some additional details about the working with Sigma over the years.
"This transaction marks Sigma's 43rd acquisition and expands its global operations to 49 locations. ... This acquisition is Blaige's 13th transaction with Sigma Plastics Group over the past two decades," the announcement states.
Blaige & Co. indicated Sun "serves diverse end-markets such as food and foodservice (FDA-approved), medical, electronics, industrial, and consumer sectors."
Sigma, based in Pompano Beach, Fla., is the largest privately owned film extrusion companies in North America.