Belmont Engineered Plastics purchased Cedar Springs, Mich.-based Display Pack Inc.'s In-Mold division, which produces decorative appliqués and thermoformed pack trays, effective Nov. 4.
Belmont, Mich.-based BEP will continue to support the division's current customers operating out of its current location and will retain its employees, a Nov. 23 news release said.
"We are excited to add DPI's In-Mold division to our company," Stephen King, BEP's CEO said in the release. "The team members and technology will enable BEP to build upon our strategy of increasing technical value and innovation for our customers.
"We look forward to beginning to demonstrate this within our personal protective equipment, consumer and automotive markets," King added. "Our business development and technical teams have done an amazing job identifying and dimensioning actionable opportunities for our current and future customers"
Terms of the deal were not disclosed.
DPI was looking to dissolve its In-Mold division last year, Jody Craig, vice president of sales and engineering at BEP, told Plastics News.
Being able to "vertically integrate" the division into BEP's existing product line will help its customers consolidate orders, Craig said.
The injection molder's leadership team will run the division, she said, which will continue to produce automotive appliqués, pack trays and PPE products.
"Our plan is to grow that business to be a $15 million company," Craig said.