The sale is currently subject to satisfaction of customary conditions. However, parties on both sides do not see any barriers to the transaction’s anticipated completion this month.
Pretium CEO and president George Abd said the packaging firm’s current owner, private equity firm Castle Harlan, fueled the producer’s success.
“They have been true partners in helping to drive Pretium’s growth, with sales growing from $165m in 2009 to $241m in 2013,” he said.
Abd added the Pretium Packaging team is excited about working with their new owners.
“They are a perfect fit with Pretium’s go-to-market strategy and will help us drive our growth in the future,” he stated.
Full terms of the transaction were not disclosed.
Pretium Packaging is headquartered in Chesterfield, Missouri. The company supplies customized rigid plastic bottles and other containers to food and beverage companies, as well as other consumer packaged goods markets.