Mold-Rite Plastics Purchases Weatherchem Corp.
Plastic packaging maker Mold-Rite Plastics adds to its lineup by acquiring plastic closure company Weatherchem Corp. Mold-Rite Plastics's investment follows its recent acquisition of Stull Technologies, another maker of closures, caps, lids, and packaging components. Both transactions are part of the company's expansion plans including both acquisitions and organic growth.
Mold-Rite Plastics, which is owned by private equity firm Irving Place Capital, will retain the Weatherchem name, just as it has done with Stull Technologies.
“Our mission is to enhance our customers’ experience through superior packaging solutions delivered with unprecedented flexibility and responsiveness, and bringing Weatherchem into our family exemplifies our commitment to that goal,” said Brian Bauerbach, President and CEO of Mold-Rite Plastics, in a statement. “Joining with an innovative company such as Weatherchem further adds to our high level of customer-focused value, and we are excited to be able to provide these new products and capabilities to our customers.”
“Uniting with Mold-Rite Plastics will allow us to improve the overall value we bring to our customers through an expanded company reach and products that naturally complement one another,” added Jennifer Altstadt, President of Weatherchem Corp.
For more details, visit www.moldriteplastics.com.