TriMas in Bloomfield Hills has signed an agreement to acquire the Rapak brand, an Illinois-based liquid packaging solutions company, including certain bag-in-box liquid packaging product lines and assets from Liqui-Box after the completion of Rapak’s acquisition of DS Smith Plc’s Plastics Division.
Financial terms were not disclosed. The transaction is expected to close early this year.
As a regulatory condition, Liqui-Box is required to divest certain of DS Smith’s bag-in-box product lines that overlap with Liqui-Box’s current product lines. In turn, TriMas agreed to acquire the Rapak brand name for its use globally, as well as bag-in-box product lines used in dairy, soda, smoothie, and wine product applications.
“We are pleased to be adding the Rapak brand name and bag-in-box applications and products to TriMas’ packaging portfolio,” says Thomas Amato, president and CEO of TriMas. “This product adjacency allows TriMas to participate in this socially responsible trend of liquid packaging solutions while also leveraging our strength in advanced closure and dispensing technology. This acquisition will also add to our diversified base of blue-chip customers serving dairy, soft drinks, liquid food products, wine, and other beverage end markets.”
In addition to the name, dispensing innovation and aseptic application products and capabilities, TriMas will also obtain all global ownership rights for Mustang wine bag-in-box dispensing products. The Mustang product line features a bag fitment with the lowest oxygen transfer rates in the market and is ideal for wine and other bag-in-box packaging applications. In addition, the acquisition will include the Autokap and Stericap brands and product lines, as well as the capacity to manufacture IntaSept filling machine products.
In 2019, the product revenue related to the acquired Rapak bag-in-box and other products was about $30 million. TriMas will also acquire manufacturing facilities in Indiana, California, and Illinois. The transaction remains subject to Liqui-Box’s successful completion of its acquisition of DS Smith’s Plastics Division and other closing conditions.
TriMas is a global manufacturer and provider of products for customers predominantly in the consumer products, aerospace, and industrial end markets with about 3,400 employees in 11 countries.