Plastipak Packaging, Inc., a Plymouth, Mich.-based manufacturer of rigid plastic packaging, signed a definitive purchase agreement to acquire the APPE packaging division of La Seda de Barcelona Group. Subject to regulatory approval and certain other conditions, closing is expected to occur in June or July.
"We remain confident that this transaction will enable us to better serve our existing and future customers and ultimately to benefit consumers," says Frank Pollock, Plastipak's chief commercial officer. “Plastipak's and APPE's combined talent, technology and manufacturing footprint will bring value [to our] customers and consumers [and offer] additional and more complete packaging solutions.”
"We look forward to welcoming the APPE workforce to our organization, and to adding their talent and capabilities to our own in the marketplace,” says William Young, president and CEO of Plastipak. “We are also eager to begin investing in the combined operations to continue to develop and offer innovative packaging solutions that address changing consumer demands and lifestyles."