USA – Liquibox, a portfolio company of private equity Olympus Partners, has completed the acquisition of DS Smith’s Plastics Division which includes both rigid and flexible packaging businesses.
Following the acquisition, the division’s flexible packaging and Worldwide Dispensers businesses will be consolidated into the Liquibox brand.
The deal will create a combined company with 35 manufacturing facilities and a global workforce of nearly 3,000 employees, providing Liquibox with a strong platform to further expand its proposition into emerging growth markets.
Liquibox says that through its Worldwide Dispensers brand of custom engineered fitments, the company will now assume a leading position globally in dispensing technologies for both rigid and flexible packaging.
The company plans to split DS Smith’s rigid businesses for extruded products, injection molded products and foam products into three newly branded and independently operated businesses.
Going forward, the business will operate as Corplex, DW Reusables and Engineered Foam Products. Liquibox said that each of these business units stands ready to execute on new growth plans under the new ownership structure.
“We’re excited to complete this transformational acquisition and welcome the DS Smith Plastics employees to our team,” said Ken Swanson, CEO of Liquibox.
“The new structure and brand identity of these businesses further supports our strategy and commitment to lead the way with sustainable packaging solutions.
“We’re excited to unlock additional value through an expanded range of film, bag and dispensing fitments, our best-in-class filler solutions and an expanded global reach.”
Manu Bettegowda, Partner at Olympus Partners added: “The DS Smith Plastics acquisition is an important step in achieving our longer-term plan, and we plan to continue to invest in the business in support of its growth strategy.”
As part of the deal, Liquibox agreed to sell its bag-in-box business with customers based in the UK from its Wythenshawe, UK, plant to Peak Packaging.
The company was further required by the U.S. Department of Justice (DOJ) to divest selected DS Smith/Rapak bag-in-box (BIB) business in the US, including two manufacturing facilities located in Indianapolis, Indiana, and Union City, California.