Jabil Circuit Inc., a contract manufacturer that builds products for companies in health care, aerospace and other fields, is buying Nypro Inc, said to be one of the largest contract plastics injection molders in the world, for about US$665 million.
For St. Petersburg, Fla.-based Jabil, which counts Apple Inc., Cisco Systems Inc., and BlackBerry among its largest customers, the acquisition is designed to add to its consumer electronics, healthcare, and consumer packaging businesses.
Clinton, Mass.-based Nypro had annual revenue of about US$1 billion, Jabil said. It has about 12,000 employees and manufacturing operations in 10 countries.
"The combination with Nypro will extend Jabil's materials manufacturing capabilities into the healthcare and consumer packaging markets as well as add depth to our consumer electronics business," Jabil’s chief executive Timothy Main said in a statement.
The transaction, subject to Nypro's shareholder vote, is expected to be completed during Jabil's fiscal third quarter ending May 31.
Jabil reported net revenues of US$17.2 billion in fiscal year 2012.