Alpha Packaging buys Progressive Plastics to drive growth
The Missouri-based company manufactures plastic bottles and jars for the personal care and pharmaceutical markets and will incorporate Progressive Plastics into its business immediately.
Like Alpha, Progressive Plastics serves the personal care market with plastic bottles, as well as targeting the auto care, house ware and food sectors.
According to Alpha’s executive vice president of corporate development Dan Creston, the company’s strategy is to acquire businesses with product lines and customer contacts that open up new opportunities.
“The opportunity for cross-selling stock products into both companies’ existing customers will provide some immediate sales opportunities and also help Alpha move toward our long-term growth objective,” he said.
New 2-stage PET capacity
In the personal care sector this includes Progressive’s large number of stock HDPE and PET items that Alpha can immediately introduce to its customers base, complementing the new lines added in 2010, a company spokesperson explained to CosmeticsDesign.com USA.
“[In addition] Progressive has several stock PET preforms for narrow-neck personal care styles that will enable Alpha to dramatically expand our 2-stage PET capabilities,” the spokesperson said.
The addition of Progressive’s manufacturing plant in Cleveland to the Alpha’s operations will also improve access to the East Coast, according to the spokesperson.
New markets
Progressive Plastics not only strengthens the company’s footprint in the personal care sector, it also allows the company to access new markets.
“Progressive is a well run company with attractive product lines in household chemicals and food packaging. This acquisition is an important first step to developing new business in key industries which are critical to Alpha’s growth plan,” CEO Dave Spence said in a statement.
These industries are housewares, consumer chemicals, and food & beverage markets where Alpha does not currently have a large share of the market, the spokesperson explained.
