Hartsville, SC- based packaging house Sonoco is to acquire privately held Matrix Packaging, a manufacturer of custom designed blow moulded rigid plastic containers and injected moulded products, for $210 million in cash.
Headquartered in Mississauga, Ontario, Canada, Matrix operates six manufacturing facilities in the US and Canada and employs approximately 860 workers.
Founded in 1992, Matrix uses rigid plastic packaging equipment, including extrusion blow moulding, injection stretch blow moulding and injection moulding that are able to produce mono- and multi-layer rigid plastic containers using a number of plastic materials.
The company manufactures a variety of custom-designed and stock containers and closures for multi-national consumer product goods companies serving the personal care, household chemicals, automotive, pharmaceutical and other markets.
In addition, it provides full-service decorating and component assembly capabilities including silk-screen printing, pressure sensitive and heat transfer labelling.
The transaction is expected to be completed by the end of June 2007.