US-based rigid plastic containers and closures maker Pretium Packaging has completed the acquisition of the Canadian packaging firm Starplex Scientific.
The company was acquired from the pharmaceutical corporation Apotex. Financial terms of the deal remain undisclosed.
The transaction is expected to support Pretium’s growth in the medical and consumer healthcare markets.
Pretium Packaging president and CEO Paul Kayser said: “The acquisition of Starplex Scientific is another example of Pretium merging independent, well-run companies with strong brand presence, a robust product line and complementary geographic locations into our existing family of companies.
“Starplex’s quality systems and medical device knowledge will be welcome additions to our growing healthcare market segment.”
Based in Toronto, Ontario, Starplex offers its products to clinical, laboratory and drug manufacturing markets in the US and Canada.
The company’s product range includes leak-resistant sterilised containers, biological sampling swabs and pharmaceutical grade containers and closures.
Starplex has a total of more than 200,000ft² of production space across its operations in Toronto and Cleveland, Tennessee, US.
As part of the transaction, Pretium will retain the existing employees and the Starplex Scientific brand.
Owned by Genstar Capital, Pretium Packaging offers plastic containers and closures for the food, speciality beverage, household and other industries.
Commenting on the transaction, Genstar Capital managing director David Golde said: “Genstar is pleased to be sponsoring Pretium’s acquisition of Starplex Scientific. The acquisition represents the seventh completed during Genstar’s ownership.
“Starplex has a well-respected brand and market presence in medical consumables and healthcare packaging, both of which represent key areas of continued investment and growth for Pretium.”
In April, Pretium Packaging acquired Olcott Plastics in an effort to support its injection moulding, personal care and beauty offerings.