The agreement also includes the purchase of some dispensing innovation and aseptic application products and capabilities.
In addition, TriMas will take over all global ownership rights for the Mustang wine bag-in-box dispensing products, the Autokap and Stericap brands and product lines, as well as capacity to produce IntaSept filling machine products.
In March 2019, Olympus Partners portfolio company Liqui-Box agreed to acquire DS Smith ’s Plastics Division.
As a regulatory condition to complete the acquisition, Liqui-Box has to sell certain DS Smith’s bag-in-box product lines.
TriMas will also purchase manufacturing facilities in Indianapolis, Indiana, and Union City, California.
Following the acquisition, TriMas will use the Rapak brand name globally.
TriMas president and CEO Thomas Amato said: “We are pleased to be adding the Rapak brand name and bag-in-box applications and products to TriMas’ packaging portfolio.
“This product adjacency allows TriMas to participate in this socially responsible trend of liquid packaging solutions, while also leveraging our strength in advanced closure and dispensing technology. This acquisition will also add to our diversified base of blue-chip customers serving dairy, soft drinks, liquid food products, wine and other beverage end markets.”
In addition to Rapak brand name, the deal enabled TriMas to obtain the global ownership rights for the Mustang wine bag-in-box dispensing products.
It also includes the Autokap and Stericap brands and product lines, as well as IntaSept filling machine product manufacturing capacity.
The completion of the deal also depends on other closing conditions. It is expected to close in early 2020.
In a separate development, DS Smith said the US Department of Justice reached a consent decree to take the sale of Plastics Division forward to closing.