Myers Industries acquires U.S. rotomolder Elkhart Plastics
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The combination of Elkhart and Myers' Ameri-Kart businesses will create the fifth largest rotational molder in the United States.
As part of its recently announced new strategy to grow via acquisition, plastic product maker Myers Industries Inc. has acquired the assets of Elkhart Plastics Inc., said to be one of the largest rotational molding companies in the U.S.
The financial terms of the deal have not been disclosed.
The combination of Elkhart with Myers’ Ameri-Kart business will create the fifth-largest U.S. rotomolder, officials with Akron, Ohio-based Myers said in a Nov. 10 statement.
“We recently launched our new, long-term strategic plan which, in the near term, is focused on strengthening [Myers] through organic growth initiatives, commercial and operational excellence, pursuing bolt-on acquisitions in plastics molding, and driving a high-performing culture,” Myers president and CEO Mike McGaugh said. “As a bolt-on acquisition within our existing technology space, Elkhart fits perfectly into this plan and helps us take a meaningful step toward our long-term vision.”
Founded in 1988 and headquartered in South Bend, Ind., Elkhart manufactures engineered products for the recreational vehicle, marine, agriculture, construction, truck, and other industries. The company’s product offerings include Kong Coolers, Tuff Stack and Tuff Cube intermediate bulk containers, and Connect-A-Dock products.
Elkhart has six U.S. manufacturing facilities and employs approximately 460 people, and will now operate as a new strategic business unit within Myers’ material handling segment.