Ont. compounder bought by American firm

Evansville, Ind.-based compounder Matrixx Group Inc. has announced that it is purchasing Aclo Compounders Inc., of Cambridge, Ont.

Founded in 1964, Aclo Compounders was a locally owned business serving regional molders, but changed hands several times. Most recently, in 1986, the Tokyo-based conglomerate Mitsubishi purchased a majority interest in the company.

Matrixx, a privately owned manufacturer of compounds, has reportedly purchased Aclo with the hopes of expanding its presence in Canada. Aclo brings in nearly US$20 million in annual sales, and the Canadian market accounts for a large percentage of its sales.

Additional details about the transaction were not made available.