US-based manufacturer of rigid metal and plastic containers BWAY Holding Company has acquired Plastican, a Massachusetts-based producer of injection molded plastic containers, in a stock purchase transaction.
The acquisition was funded with available cash on hand.
BWAY’s President and Chief Executive Officer Ken Roessler said that the acquisition will expand the firm’s product offering with innovative new products, in addition to sales and market share growth.
“We expect to realize significant synergies from this acquisition, including potential future plant rationalizations,” he added.
Plastican produces a wide range of innovative plastic pails used for packaging industrial and consumer products. The company operates four manufacturing plants located in Leominster, Massachusetts; Macon, Georgia; Dallas, Texas; and Phoenix Arizona.