Pretium Packaging to acquire Alpha Packaging
Alpha operates a network of eight facilities throughout the U.S. and Western Canada and two facilities in Europe.
In a deal involving two St. Louis, Missouri-based rigid packaging companies, Pretium Packaging LLC is acquiring Alpha Consolidated Holdings Inc., a provider of sustainable packaging solutions to customers in the health and wellness, specialty food and beverage, home and personal care, and other sectors, from Irving Place Capital.
The financial terms of the transaction were not disclosed.
“Alpha and Pretium are a natural fit given both companies’ complementary product portfolios, process technologies, and footprints,” Paul Kayser, president and CEO of Pretium, said in a news release. “By bringing together Pretium and Alpha’s people, assets, and footprint, our combined platform will be able to better serve customers through enhanced solutions and production capabilities, which will help accelerate the combined company’s growth.”
Alpha blow molds bottles and jars made primarily from PET and HDPE, and operates a network of eight facilities located strategically throughout the U.S. and Western Canada and two facilities in Europe.
Pretium makes products using PET, HDPE and polypropylene. The company is owned by Clearlake Capital Group along with management.