Consolidated Container, a US-based developer and manufacturer of rigid plastic packaging solutions, has completed the sale of its Mexican polycarbonate bottle manufacturing business to a local private equity group Davinci Capital.
The transaction includes sale of two manufacturing plants, one of which is situated at Cuautitlan while the other plant is at Irapuato. Together, both plants have about 120 employees.
Even after the transaction, the business will be operated under its current name, Reid Mexico, said the company.
Consolidated Container president and CEO Jeffrey Greene said the transaction will enable the company to concentrate on customers in its US core rigid plastics business.
"In addition, it provides Reid Mexico with the local management and resources that are needed to grow that business," added Greene.
"This is a great outcome for CCC, Davinci Capital and Reid Mexico."
With 54 manufacturing plants across the US, the company provides packaging solutions to dairy, household chemicals, food, industrial and specialty chemicals, water, as well as beverage and juice markets.