Silgan buying packaging solutions provider Gateway Plastics
The deal aims to expand Silgan's product offering in dispensing and specialty closures.
In a move that expands its product offerings in the dispensing and specialty closures business, rigid packaging supplier Silgan Holdings Inc. has acquired Gateway Plastics for US$485 million.
Headquartered in Mequon, Wis., Gateway specializes in the manufacturing and marketing of dispensing closures and integrated dispensing packaging solutions. The company produces products such as a combined container and closure or 100 per cent recyclable dispensing beverage pods, which can be used by consumer goods product companies in food and beverage applications. It also provides packaging for pet care, and chemicals and nutraceuticals applications.
“Gateway has existing capacity for growth as it is very well capitalized with state-of-the-art equipment and market-leading capabilities and, like Silgan, maintains a relentless focus on meeting the unique needs of its customers,” Silgan president and CEO Adam Greenlee said in a statement. “In addition, we believe Gateway’s advanced automation platform can be leveraged across much of Silgan’s manufacturing footprint.”
Headquartered in Stamford, Conn., Silgan supplies rigid packaging solutions for consumer goods products with annual net sales of approximately US$4.9 billion in 2020. The company operates 110 manufacturing facilities in North and South America, Europe, and Asia.