Consumer products container manufacturer Plastipak to acquire APPE packaging
APPE makes single-stage and two-stage containers for the personal care industry, among others. And the company offers its customers decorative printing services as well. APPE’s sustainability efforts include the production of 35k tons of recycled PET each year at its facility in Europe.
Plastipak already counts companies in the personal care industry among its clients. “We are continuing to improve our organizational capabilities to earn the confidence and loyalty of our customers in all the categories we serve. This includes investments in packaging that address changing consumer demands and lifestyles. We are excited and look forward to the future with the acquisition of the APPE Packaging Division,” said William C. Young, president and CEO, regarding the deal.
Weak acquisitions
APPE is a division of La Seda de Barcelona Group. And the acquisition is part of that group’s insolvency proceedings. The deal will likely close in the first quarter of 2015.
In February of this year, Plastipak acquired US assets and intellectual property of bankrupt Constar International, a packaging manufacturer based in Philadelphia, Pennsylvania. At the time of the purchase, Constar had six plants. “Constar was a pioneer in the PET bottle business,” according to PlasticsNews.com.
Sturdy company
That publication currently ranks Plastipak as the number three blow molder company in North America with $1,840m in sales and 13 plants.
