Rigid plastics manufacturer One Fifty One’s (One51) has agreed to to acquire US-based firm Macro Plastics for around $150m.
Based in Fairfield of California, Macro Plastics is engaged in the manufacturing of rigid plastic bulk bins, as well as offers value-added rigid plastic bulk packaging solutions to the agricultural and automotive sectors.
Established in 1989, Macro Plastics has three manufacturing facilities in the California, Washington and Kentucky of the US.
The acquisition will allow One51's subsidiary IPL to expand its operations in the North American rigid plastic packaging market, as well as global rigid plastic packaging container business.
Macro also provides other products such as customized international shipping solution for the automotive industry, in addition to a range of temporary flooring and roadway products.
Subject to US regulatory clearance the deal is expected to complete by the mid-June this year.
One51Group chief executive Alan Walsh said: “This transformational acquisition gives us our first significant presence on the west coast of America, providing us with a leading position in a number of growing market segments.
“The acquisition also expands our geographic reach, product portfolio and customer base across the growing North and South-American markets.
“The integration of Macro with IPL and OnePlastics Group (OPG) will make One51 a significant player in the global rigid-packaging container market.”
One51 provides rigid plastics solutions for the packaging, environmental containers and industrial products sector, while IPL is involved in the manufacturing of injected moulded plastic products.
With six manufacturing facilities in the US and Canada, IPL designs and manufactures products for the food and bulk packaging, environment and material handling sectors.
Image: One Fifty One’s subsidiary IPL to acquire Macro Plastics. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.