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Silgan buys closure maker Portola

In a move to broaden its European closures business, U.S.-based rigid packaging maker Silgan Holdings Inc. has bought Portola Packaging, Inc., a leading manufacturer of plastic closures, for US$266 million.


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August 13, 2013 by Canadian Plastics

In a move to broaden its European closures business, U.S.-based rigid packaging maker Silgan Holdings Inc. has bought Portola Packaging, Inc., a leading manufacturer of plastic closures, for US$266 million.

Illinois-based Portola, which reported sales of approximately US$200 million in 2012, operates eight facilities in North America and Europe.

“We believe this acquisition will be highly synergistic with our existing closure business, while providing a broader platform to service our customers’ market needs,” said Bob Lewis, Silgan Holding’s executive vice president and CFO Chief Financial Officer.

Silgan Holdings is a leading supplier of rigid packaging for shelf-stable food and other consumer goods products with annual net sales of approximately US$3.6 billion in 2012. The company operates 81 manufacturing facilities in North and South America, Europe, and Asia.

The deal is scheduled to close as early as September.