Custom blow molded packaging solutions supplier Pretium Packaging has acquired Tri-Delta Plastics for an undisclosed amount.
Tri-Delta manufactures a complete line of proprietary rigid packaging products for the food, healthcare, and household chemicals end markets.
With its acquisition, Pretium will be able to produce containers, bottles, and closures, primarily within the spice and seasonings end market, which Tri-Delta specialises in.
President and CEO of Pretium George Abd said: "This transaction is in-line with our strategy to build Pretium both organically and through selective acquisitions that expand our markets, technologies and geographic reach to allow us to better serve our customers."
Speaking about the transaction, owner and president of Tri-Delta Thomas Dolan said: "Our commitment to proprietary product development, superior customer service and responsiveness, and robust manufacturing processes forged our solid reputation within the packaging industry over the past quarter century.
"We are proud of the strong business we have built and the great team that leads it. Very early in our sale process it became clear to me that Pretium Packaging would be the best home for our company as both organizations share a commitment to serving our customers in every way possible. Importantly from my perspective, Pretium completed its due diligence expeditiously and understood how to work with a family-run business in terms of what to ask and how to complete the process."
P&M Corporate Finance (PMCF) served as financial advisor to Tri-Delta for the deal.
