Pretium Packaging acquires injection molder Olcott Plastics
The purchase of Olcott is designed to bolster Pretium's injection molding and personal care/beauty offerings.
April 17, 2019 by Canadian Plastics
In a bid to boost its injection molding and personal care/beauty offerings, plastic container and closure maker Pretium Packaging has acquired Olcott Plastics Inc. for an undisclosed amount.
The deal is also designed to allow St. Charles, Ill.-based Olcott to offer blow molded containers and a national footprint to its customers.
Founded in 1969, Olcott specializes in injection molding and decorating of single- and double-wall PP jars, as well as injection molding and lining of PP closures.
“Joining forces with Pretium is a perfect fit for the next chapter of Olcott Plastics,” Olcott co-owners Joseph and John Brodner said in a statement. “We are excited to be able to offer our customers a broader product portfolio and national footprint while continuing to provide the same level of service they are accustomed to receiving from Olcott. We believe this transaction will be beneficial to both our customers and employees.”
This is the sixth acquisition by Chesterfield, Mo.-based Pretium since its 2016 purchase by San Francisco-based private equity firm Genstar Capital LLC.
Pretium manufactures approximately two billion PET and HDPE containers annually from its 17 locations across the U.S. and Canada.