Film and sheet maker Sigma Plastics Group is buying the institutional can liner business of JR Plastics Corp. in Ocala, Fla., a move that JR said will let it focus on its plastic decking business.
In an Oct. 13 announcement, Sigma did not disclose terms of the deal but said its IsoFlex Packaging division is making the acquisition and would be buying customer lists and moving the equipment for the can lining operations to its factory in Pompano Beach, Fla.
JR Plastics said it was selling off that unit to focus on other product lines.
"I am excited to achieve the goal of focusing JR Plastics on our rapidly growing decking business," said James Wear, JR's founder and owner, adding that he wanted to ensure that "the institutional can liner customers we serviced over the years will continue to enjoy the excellent service and quality they came to expect with JR."
JR was one of the fastest-growing companies in the 2021 Plastics News ranking of North American film and sheet makers, rising 17 spots to No. 65, after moving up nine spots the previous year.
It had an estimated $100 million in sales with one factory in Ocala and 25 production lines for markets including food packaging, trash bags and industrial can liners.
It also makes its WearDeck brand of reinforced plastic lumber for commercial, municipal and residential markets.
Sigma CEO and President Mark Teo said in the announcement that JR has a "long and distinguished history" in the institutional market in the Southeast.
Sigma ranked fourth in the Plastics News film and sheet listing, with $2.3 billion in estimated sales and 41 factories.