Consolidated Container to acquire assets of US packaging company

14 November 2012 (Last Updated November 14th, 2012 18:30)

Consolidated Container Company (CCC) has announced plans to acquire all assets of plastic container manufacturer Madras Packaging, for an undisclosed value.

Consolidated Container Company (CCC) has announced plans to acquire all assets of plastic container manufacturer Madras Packaging, for an undisclosed value.

The deal, which is expected to close in the coming weeks, comprises facilities of plastic container manufacturer Madras Packaging, in Atlanta, Georgia, and Argos, Indiana.

CCC president and chief executive officer Jeffrey Greene said the addition of the Argos facility would improve the company's ability to serve key regional and national customers in the industrial and speciality chemicals markets in the Midwest and Greater Chicago regions.

"The Atlanta plant expands our ability to serve key customers in multiple sites with our national platform," Greene said.

According to the US-based rigid plastic packaging solutions provider CCC, the acquisition of Madras Packaging supports the company's plan of growing through a combination of organic growth and targeted merger and acquisition (M&A) activity.

Madras Packaging parent company Old World Industries president Rick Jago, commenting on the acquisition, said, "This is absolutely the right action for Old World Industries, LLC, and Madras Packaging; and CCC's commitment to growing in the region aligned perfectly with our objectives."

CCC said that the latest acquisition represents the company's second purchase announced since its acquisition by Bain Capital in July 2012.

CCC has 60 manufacturing facilities, with an integrated network across the US of manufacturing and service locations that deliver packaging solutions to a range of customers and markets.

The company serves customer base in the dairy, large-format water, beverage, food, household chemical, automotive and speciality chemical markets.