Clondalkin Group Acquires the Direct Plastics Group
PHILADELPHIA—July 9, 2007—Clondalkin Group, the international producer of flexible and specialist packaging products with over 40 production locations throughout Europe and North America and annual sales in excess of $1 billion, is pleased to announce the acquisition of the Direct Plastics Group – one of Canada’s leading privately held converters of flexible packaging.
Direct Plastics, located in Orangeville, ONT, is an integrated producer and converter of flexible packaging products serving customers in Canada and in the United States of America since 1988. Utilizing its well invested manufacturing and converting technologies, Direct Plastics supplies high quality packaging products to the frozen food, confectionery, horticulture and animal care markets.
The acquisition expands Clondalkin’s presence in the North American flexible packaging sector. Direct Plastics will augment Clondalkin’s U.S. plastic packaging businesses that include Fortune Plastics which has multiple facilities in Connecticut, Tennessee, Illinois, Florida and Arizona, thereby expanding the product and service capabilities for our customers. Clondalkin’s North American packaging operations include 14 manufacturing facilities across the United States and in Puerto Rico. Clondalkin also owns several plastic packaging extrusion and converting businesses in Europe.
According to Clondalkin Chief Executive, Norbert McDermott: “The acquisition of Direct Plastics, alongside significant investment in our existing businesses, demonstrates our ongoing commitment to the flexible packaging markets in North America and Europe. We have significantly expanded our product capability, technology range and geographic reach in recent years to enhance our customer service offerings.”
Craig Harris, President and co-founder of Direct Plastics, stated: “The truly exciting part of this deal is the opportunity to continue to grow our business as a part of an international business group. After a careful search, we chose Clondalkin as our new owners as they are determined to grow the business and we gain access to over 40 operations throughout North America and Europe. We look forward to sharing in best practice and advanced technology exchanges to better service the higher value market segments in which we operate.”
“Acquiring Direct Plastics is another important step in building on and expanding Clondalkin’s position of excellence – especially in the flexible packaging sector. Direct Plastics has an outstanding reputation as a customer-focused quality supplier. We are delighted to welcome Direct Plastics and its committed management and employees into Clondalkin Group” observed Joe Moynihan, Chief Operating Officer of Clondalkin Group, Inc.
