Printpack Inc. Acquires Assets Of PBM Plastics

Printpack expands their capabilities in the barrier plastics market

Newport News, VA – Printpack, Inc., a flexible packaging and specialty rigid container manufacturer, announced today that it has reached an agreement to purchase the assets of PBM Plastics, Inc., a technology leader in the manufacturing of thin-wall, deep draw, thermoformed plastics. Located in Newport News, Virginia, PBM Plastics is an affiliate of PBM Products, LLC, the largest supplier of store brand formulas in the United States. Terms of the acquisition were not announced.

Dennis M. Love, President of Printpack stated, "PBM Plastics is an ideal addition to Printpack because it adds important customer relationships and melt-phase forming technology to our Rampart™ division. This strengthens our commitment to the growth of the Rampart™ business in the barrier plastics market and provides unique positioning to accelerate our market substitution plans within these markets."

"This acquisition will allow us to focus on our core business of pediatric nutrition and maintain our baby bottle liner distribution capabilities," said Paul B. Manning, President and CEO of PBM Products. "I am confident that a company of Printpack's reputation will continue to develop melt-phase plastics with the same dedication to its associates and to the communities in which it conducts business.

SOURCE: Printpack, Inc.