Rigid container maker BWay Corporation is buying Ropak Packaging in a deal valued at approximately US$265 million.
Fountain Valley, Calif.-based Ropak is a North American producer of rigid, plastic shipping containers serving the consumer goods, food processing, construction, dairy, petroleum and other industries.
BWay and Ropak executives said integrating the businesses would be beneficial for customers of both companies. "Ropak is known for innovative products and exceptional customer service," said Kenneth Roessler, president and CEO of Atlanta-based BWay. "Integrating Ropak into our business creates an excellent opportunity to broaden our product portfolio and expand our reach. The transaction is a natural and exciting combination."
The deal comes just one month after BWay itself came under new ownership. Private equity firm Platinum Equity LLC of Los Angeles finalized its purchase of BWay last month, in a deal worth approximately US$1.24 billion.