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Pretium Packaging completes merger with Novapak

Blow molder Pretium Packaging LLC has completed its million merger with Novapak Corporation, begun in January 2010.


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May 29, 2010 by Canadian Plastics

Blow molder Pretium Packaging LLC has completed its million merger with Novapak Corporation, begun in January 2010.

 

The combined business is expected to generate more than US$240 million of blow molded bottle and injection molded pre-form sales to over 500 customers from 14 manufacturing facilities in Canada and the U.S.

 

The new entity will retain the name Pretium Packaging, be headquartered in Chesterfield, Missouri, and be managed by the current Pretium management team together with members of Novapak management.

“Both Pretium and Novapak have focused on small to medium volume, custom bottle applications, and much of both companies’ recent growth has come in PET bottles,” said George Abd, president and CEO of Chesterfield-based Pretium said. “The advantage for both companies’ customers is that while Pretium has invested significantly in one-step, wide mouth PET technology and assets, Novapak has made significant investment in two-step, narrow neck PET and pre-form manufacturing. The combination of these world-class assets and capabilities, will allow the merged company to offer our customers a full range of one-step and two-step PET bottles, as well as extrusion blow molding and injection blow molding alternatives in HDPE and PP.”

 

Pretium is a manufacturer of custom-designed packaging for the food, pharmaceutical and personal-care industries. In addition to seven locations in the US, the company has two manufacturing locations in Quebec that employ over 100 people.

  

Novapak, based in Eatontown, N.J., was sold in January by Kirtland Capital Partners, a Cleveland, Ohio-based private equity investment firm.