Consolidated Container Co. is acquiring a Tennessee-based company that describes itself as one of the largest makers of prescription packaging in the country.
Tri State Distribution Inc. manufactures plastic packaging in Sparta, Tenn., and was founded in 1992. But the company has outgrown its name over the years to now include distribution locations in Harrisburg, Pa.; Lenexa, Kan.; and Reno, Nev. The company also has distribution agreements with drug wholesale companies to allow for nationwide distribution.
Tri State's plant now is almost 350,000 square feet and is situated on a 23-acre parcel, the company said.
"The company has established an outstanding reputation for innovative packaging solutions with excellent quality and customer service in the pharmaceutical packaging market," CCC CEO Sean Fallmann said in a news release.
Tri State was co-founded by Dave and Joe Miceli.
"This is an ideal time to partner Tri State with CCC as we welcome a new phase of growth," Dave Miceli said in a statement. Tri State began as an 8,000-square-foot operation in Spencer, Tenn.
The company's offerings include vials, closures and labels used by both pharmaceutical makers and retail pharmacies. Company founders have received more than 40 patents for closures, containers and labels over the years.
Tri State uses injection molding, injection blow molding and both single- and two-state injection stretch blow molding to make products.
The company includes a tool-and-die department that designs and builds new molds.
Atlanta-based CCC was No. 6 in the latest Plastics News ranking of North America's largest blow molders with estimated annual sales of $915 million. The company has more than 60 rigid plastic packaging plants and owns plastics recycler Envision Plastics, which operates two locations.
The deal for Tri State follows May's acquisition of Sonic Plastics Enterprises LLC of Lindon, Utah, a 47,000-square-foot bottle-maker near Salt Lake City.
Sonic's production portfolio included Boston rounds, straight-side wide mouth, wide-mouth, decanter/carafe, contour and specialty bottles, according to the company. Markets
CCC is a unit of Loews Corp., a New York publicly traded conglomerate that once included Loew's Theatres. Other key markets for the company these days include insurance, energy and hotels.