Brazilian pipe maker Tigre Group buys U.S. pipe fittings maker Dura Plastic
Dura Plastic has production units in California and Tennessee, and injection molds PVC pipe fittings.
Tigre Group, a Brazilian pipe manufacturer, has acquired U.S.-based PVC piping component maker Dura Plastic Products Inc. through its Tigre-USA Inc. business unit.
The financial terms of the deal have not been disclosed.
Dura Plastic is family-owned and has two production units, one in California and the other in Tennessee, and six company-run distribution centres throughout the U.S. “Together, Dura and Tigre are among the largest in the sector in the country,” Tigre officials said in an April 9 news release.
“The acquisition of this company accelerates our goal of serving the market with a high-quality and an even more comprehensive portfolio,” said Vicente Smith Amunategui, executive director of international business at Tigre Group. “Dura Plastic has more than 50 years in the American market, with an impressive track record in building reliable and innovative solutions for the construction and irrigation sectors.”
“This type of transaction has always been in the plan,” said Dura Plastic vice president Hardy Rost. “The timing was right, and without further family succession, it was an easy decision when [Tigre] contacted us. It was important for the Rost family to find a strategic alliance, and in our discussions, it became evident that the core principals and business values were the same.”