TricorBraun has signed a definitive agreement to acquire a Canadian firm Salbro Bottle, as part of its efforts to strengthen its presence in the country.
Financial terms of the acquisition were not divulged by the company.
Established in 1990, Salbro Bottle is a 27-year-old packaging solutions company based in Woodbridge, Ontario.
It focuses on manufacturing plastic containers, glass containers and closures
Salbro Bottle’s assets also include a sales office in Montreal with approximately 30,000ft2 of 3PL warehousing.
TricorBraun president and CEO Keith Strope said: “Salbro fits our strategic vision extremely well. We were interested in expanding our reach and presence in Canada and this acquisition helps us do both.
“As part of the deal, TricorBraun will acquire enhanced rapid prototyping and even quicker response times.”
Salbro expects that the deal will enable the company to provide additional strength to expand its market.
The company's sales and marketing vice-president Paul Saltz said: “We're big enough to handle anyone's order, but we're also flexible enough to be able to react and adapt to the customer's needs quickly. Being part of TricorBraun will help us expand that approach.”
Strope added that TricorBraun will continue to look for additional acquisitions complying with its growth strategy.
TricorBraun manufactures glass and plastic containers, closures, dispensers and tubes.
It operates more than 40 locations across North America along with its centres across England, China, Hong Kong and India.