Multinational holding company Westfall Technik has acquired US-based packaging company Carolina Precision Plastics (CPP) together with its wholly owned subsidiaries.
CPP develops sustainable packaging solutions for the personal care, beauty and other fast-moving consumer goods (FMCG) markets.
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Westfall Technik will acquire CPP’s facilities in Mocksville and Asheboro, North Carolina, as well as its facility in Kaiping in China’s Guangdong Province.
The financial terms of the transaction have not been disclosed.
Westfall Technik chief operating officer Mark Gomulka said: “This highly strategic, synergistic deal greatly strengthens our presence in the fast-moving consumer goods segment.
“CPP Global is a valued packaging supplier to several leading personal care and beauty companies, such as L’Oréal (serving their L’Oréal Paris and Kiehl’s brands), Estée Lauder and Burt’s Bees, among others.”
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By GlobalDataWestfall Technik chief commercial officer Merritt Williams said: “This [acquisition] provides a further supply-chain advantage to Westfall when it comes to serving key customers in both the packaging and healthcare sectors.
“CPP’s North Carolina plants are ideally located to serve the multitude of brand owners with a manufacturing presence in the surrounding area.”
CPP operates around 100 injection moulding machines across three facilities, collectively covering 335,000ft² of manufacturing space.
The company also operates a ‘collaborative design centre’ and claims to have a strong sustainability profile.
CPP CEO Brian Tauber said: “I’m thrilled to combine our strengths with the breadth and depth of Westfall’s capabilities to enhance our ability to provide our employees, customers and other stakeholders with more opportunities to grow together.”
Since its foundation in 2017, Westfall Technik has acquired or launched at least 19 businesses across North America.
The company provides manufacturing solutions in the medical, packaging and consumer goods industries.
Morrison Cohen represented Westfall Technik as legal counsel for the transaction. Sheppard, Mullin, Richter and Hampton acted as legal counsel for CPP, while Stifel acted as the latter company’s financial advisor.
