PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Pregis’ packaging products for e-retailers include inflatable shipping pillows.
Pregis Corp., which manufactures and supplies protective packaging and shipping systems for goods, such as foam casing to surround a plate, to retailers from facilities in North America and Europe, today announced it has acquired competitor Inter-Pac Inc. The deal will help Pregis better serve its East Coast customers, the company says, given Inter-Pac’s Tupelo, MS, manufacturing center.
“This was an ideal acquisition for Pregis because of Inter-Pac’s polyethylene foam production capability and its geographic location,” says Dache Davidson, director of marketing for Pregis. “The additional capacity now makes Pregis the largest producer of polyethylene foam in the United States. Further, it supports strategic growth in the Southeast and Eastern regions of the country.”
Pregis did not say how much it paid. It will continue to operate Inter-Pac’s 180,000 square foot Tupelo facility and Inter-Pac’s 25 employees will join Pregis’ 2,000 staffers worldwide.
Pregis’ packaging products for e-retailers include inflatable shipping pillows—with a hybrid version that inflates to multiple sizes—paper and foam stuffing, as well as biodegradable alternatives.
“We believe that this transaction will benefit our customers across all segments and channels,” says Kevin Baudhuin, president and CEO of Pregis. “This includes markets such as furniture, housewares, electronics, automotive, industrial and recreational products. We will also be able to bring a much wider product portfolio to Inter-Pac’s existing customers.”