Pretium expands with Mexico acquisition
Pretium Packaging LLC is acquiring a group of rigid plastics packaging companies in Mexico.
Ballwin, Mo.-based Pretium said family-owned Grupo Edid includes four separate operations: Ediplast, Edipacks, Refrepet, and Ediprint.
"Grupo Edid is recognized as a pioneer in the use of post-consumer recycled materials across its product lines, which aligned well with Pretium's core focus on sustainability and strategy to expand into Mexico," Pretium said in a statement.
"The company has built a regional leadership in multi-use containers and closure systems with solutions that are highly complementary to Pretium's offerings," Pretium said.
Grupo Edid is based in Lerma, Mexico, and makes blow and injection molded containers and closure systems.
Management at Grupo Edid is keeping a stake in the company through the deal with Pretium, which is owned by Clearlake Capital Group L.P.
Grupo Edid's leadership team will remain in place. The company serves the food, beverage, home, health and personal care segments.
The company's PET container business includes Ediplast and Refrepet, according to the company's website. Edipacks focuses on making thin-walled plastic food containers as well as promotional plastic drinking cups. Ediprint prints magazines, brochures, catalogues and boxes.
"My family and I were only willing to sell Grupo Edid to the right partner who could continue executing on our vision for the business, and we believe we found the ideal partner in Pretium," CEO Isaac Edid said in a statement.
"Grupo Edid's thin-wall injection molding and FSC-certified paperboard and micro-corrugated printed packaging divisions expand and enhance Pretium's capabilities. The quality and breadth of Grupo Edid's products, as well as scale of its operations, is a testament to the legacy the Edid family has built over the course of 35 years," Pretium said.
Grupo Edid also called itself "pioneers in the use of 100 percent Agave resin, which has an accelerated biodegradation, making our packaging more and more sustainable."