PE-backed Consolidated Container Co. is buying substantially all of the assets of plastic container manufacturer Madras Packaging. Terms were not released. The acquisition is the second such deal by Consolidated Container since it was acquired by Bain Capital in July.
Consolidated Container Company (CCC) announced today its intention to acquire substantially all of the assets of plastic container manufacturer Madras Packaging, located in Atlanta, Georgia, and Argos, Indiana. This marks the second acquisition announced by CCC since its acquisition by Bain Capital in July of this year. CCC acquired the assets of Roffe Container in September.
Jeffrey Greene, President and Chief Executive Officer of CCC, said, “The acquisition of Madras Packaging supports CCC’s plan of growing through a mixture of organic growth and targeted M&A activity. The addition of the Argos facility enhances CCC’s ability to serve key regional and national customers in the industrial and specialty chemicals markets in the Midwest and Greater Chicago regions. The Atlanta plant expands our ability to serve key customers in multiple sites with our national platform.”
Rick Jago, President of Madras Packaging’s parent company, Old World Industries, LLC, stated, “This is absolutely the right action for Old World Industries, LLC, and Madras Packaging, and CCC’s commitment to growing in the region aligned perfectly with our objectives. This is an exciting outcome for the employees and customers of Madras Packaging.”
The acquisition is expected to close in the coming weeks.
Consolidated Container Company
CCC is a leading developer and manufacturer of rigid plastic packaging solutions in North America. CCC specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the dairy, large-format water, beverage, food, household chemical, automotive, and specialty chemical markets. With 60 manufacturing facilities and 2,100 employees, CCC has an integrated, nationwide network of manufacturing and service locations that deliver reliable and cost-effective packaging solutions to a wide range of customers and markets. CCC provides standard and custom packaging solutions to its customers. From its state-of-the-art Panella Engineering and Development Center to its experienced manufacturing teams across its network, CCC delivers high performance, cost-effective design solutions to meet even the most challenging container applications.
For more information on Consolidated Container Company, visit www.cccllc.com .
SOURCE: Consolidated Container Company