Portola Packaging Inc. announced recently it has completed the acquisition of Woonsocket-based Tech Industries Inc., a leading manufacturer of plastic closures and containers for the personal care and cosmetic industries, which had sales of approximately $31 million in fiscal year 2002.
“We’re extremely excited about the addition of Tech Industries to the Portola family,” said Jim Taylor, president and COO for Portola. “Tech is the market leader in highly decorative value-added packaging for the cosmetic and personal care industries. Their market leadership will contribute significantly to our future growth plans as we look to strategically diversify into additional markets outside our traditional food and beverage segments.”
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Over the past year, Portola’s strategic research identified a number of market segment opportunities for growth that included the food, personal care, and cosmetic industries.
“We’re in the product integrity business and feel we can bring our outstanding customer service and quality, manufacturing competency, global manufacturing presence and product innovation to this new market segment. Tech Industries is already a leader in one of these important growth markets and therefore is an excellent partner to help us achieve these diversified growth objectives,” added Taylor.
For the past 50 years, Tech Industries has been a leading supplier to global cosmetic and personal care companies producing high impact plastic closures and containers by using in-house patented molding systems. Tech’s creative design and manufacturing teams have allowed many of their customers to create one-of-a-kind packaging for maximum shelf impact, vital to the skin care, fragrance and cosmetics industries.
“We’re looking forward to our new relationship with Portola and the synergistic opportunities we can bring to each other,” said Bill Nast, co-president of Tech Industries. “This partnership will allow Tech to serve geographic markets that were previously out of our reach, and create a company that will continue to deliver a higher level of customer satisfaction and customer service.”
Headquartered in San Jose, Calif., Portola designs, manufactures and markets a broad range of products and services including tamper evident plastic closures, bottles, and related equipment and engineering services for the dairy, milk, fruit juice, bottled water, sports drinks, and other non-carbonated beverage markets.
