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Dart Container buys Solo Cup

April 02/2012

(canplastics) -- In a deal between two of North Americas largest thermoformers, Dart Container Corporation is purchasing Solo Cup Company for USD1 billion.

Both U.S.-based companies are in the consumer and foodservice disposable packaging business.

Illinois-based Solo Cup is being sold for USD315 million along with USD700 million in debt. Dart Container, headquartered in Mason, Mich., said it expects the deal to close by the third quarter of 2012, subject to regulatory approval. Dart expects to continue offering products under the Solo brand.

Our acquisition of Solo will allow us to provide even greater value to our customers in the future, said Dart Container CEO Robert C. Dart. It will enable customers to purchase a wider range of products, made from a greater variety of materials with varying functional and environmental attributes all from a single vendor. Both companies have an extensive history in the industry and will bring together valuable experience, traditions and complementary, high-quality products.

 


mrcplast.com
Author:Marina Ivanova
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Category:General News
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