Mold-Rite’s acquisition of the US-based manufacturer of dispensing closures, caps, lids, and packaging components will help to broaden its product line, geographic reach and manufacturing capabilities.
Stull Technologies sales & marketing EVP Jason Stull said partnering with Mold-Rite will further improve the quality of products, services and worth that the company brings to its customers.
"We are confident that combining our organisation with Mold-Rite Plastics’ resources will enhance Stull’s strengths and our commitment to delivering market-leading innovation and exceptional customer service," Stull said.
the Stull name will be retained by Mold-Rite, which is owned by private equity firm Irving Place Capital, in order to tap the brand equity built by the company.
According to Mold-Rite, the acquisition is part of the company’s expansion plan that includes both organic growth and acquisitions.
Recently, the company had launched EZ-Safe and EZ Grip line of closures, a range of ergonomically ribbed closures, which have been designed to improve shelf impact.
Mold-Rite Plastics president and CEO Brian Bauerbach, commenting on the acquisition, said, "Combining Stull Technologies with the Mold-Rite Plastics family is another example of our commitment to superior service, flexibility and overall customer-focused value."
Mold-Rite Plastics manufactures a variety of caps, jars and specialty closures and serves diverse markets such as nutritional, pharmaceutical, household, automotive, personal care, food and beverage.