DuPont subsidiary acquires food packager

Whitby, ON-based Enhance Packaging Technologies Inc., a subsidiary of DuPont Canada, has signed an agreement to purchase Liqui-Box, a manufacturer and supplier of packaging systems for liquids and other pumpable food products to institutional customers. The agreement, which is subject to shareholder and regulatory approval, calls for Enhance to acquire all of Liqui-Box’s outstanding common shares for a total of approximately US$330 million. The transaction is expected to close in May or June.

The new company will operate as Liqui-Box, a DuPont Canada company, under the direction of Enhance Packaging’s president and CEO Ash Sahi. Liqui-Box operates nine production facilities in the U.S., one in the U.K. and one in India. The company’s flexible packaging systems are used for everyday products such as soft drink syrups, dairy products and other foods for restaurants and fast food chains across North America and Europe. For 2001, Liqui-Box posted revenue of US$145 million, with earnings of US$13.5 million.