A week after announcing a $900 million acquisition, Silgan Holdings Inc. has unveiled a smaller deal: the acquisition of Macedonia, Ohio-based Cobra Plastics Inc.
Cobra makes injection molded closures, with a focus on the aerosol overcap market. Terms were not disclosed.
Cobra has annual sales of about $30 million, and has two plants in Macedonia, according to Stamford, Conn.-based Silgan. Cobra was founded in 1973 as Le-Air Molded Plastics Inc. It had an ownership and name change in 1995.
"The acquisition of Cobra Plastics expands the product offering of our global closures franchise into a variety of new markets and applications," Silgan President Adam Greenlee said in a news release.
"The combination of Cobra's overcap product line with our aerosol actuators and dispensing systems will allow Silgan to offer a broader range of integrated solutions, including functional overcaps, to meet the unique needs of our customers," Greenlee said.
On Jan. 27 Silgan announced plans to buy Albéa Group's dispensing business for $900 million. The dispensing business is primarily the former Rexam Personal Care business, which Paris-based Albéa bought in 2013.
The Albéa dispensing business generated 2018 sales of $383 million. It makes pumps, sprayers and foam dispensing products for beauty and personal care customers. The business has 10 plants located in North America, Europe, South America and Asia.
Silgan, which is publicly traded, makes plastic and metal rigid packaging for consumer goods customers. The company posted 2018 sales of $4.4 billion. Silgan has 98 manufacturing facilities in North and South America, Europe and Asia.
Its businesses include metal and plastic closures and dispensing systems, and plastic containers for shelf-stable food and personal care products.
Silgan ranks high on several of Plastics News' annual surveys of North American plastics processors: No. 10 in injection molding, No. 20 in thermoforming and No. 8 in blow molding.
Silgan expects the Albéa deal to close in the first half of 2020.