Fabri-Kal, located in Kalamazoo, Michigan, specializes in food service packaging.
Food and beverage packaging supplier Pactiv Evergreen Inc. will acquire consumer brand packaging manufacturer Fabri-Kal Corp. for US$380 million.
"The merger of these two complementary companies will further expand Pactiv Evergreen's position in the food service sector, expand our supply of sustainable packaging products and customer base, and improve our manufacturing and distribution capabilities," Mike King, CEO of Pactiv Evergreen Say. "Fabri-Kal is known for its high-quality products, long-term customer relationships and sustainable packaging solutions."
Headquartered in Kalamazoo, Michigan, Fabri-Kal provides food and beverage services and customized thermoformed plastic packaging solutions. About 72% of its sales come from food service products and the rest are consumer products. The company's products include serving cups, lids, flip tops, beverage cups and yogurt containers for the packaged consumer goods and industrial food markets. Fabri-Kal has approximately 1,000 employees and operates four manufacturing plants in the U.S.
Pactiv Evergreen officials said that the transaction is expected to be completed by the end of the third quarter or the beginning of the fourth quarter of this year.
Pactiv Evergreen is headquartered in Lake Forest, Illinois.
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