PLYMOUTH — Plastipak Packaging Inc., a global manufacturer of rigid plastic packaging, has had its bid at a bankruptcy 363 auction determined to be the highest and best value for certain U.S. assets of Constar International, the Philadelphia-based manufacturer of food and non-food packaging.
“We extensively analyzed the sites, machinery, and intellectual property, and evaluated the organizational strengths of Constar’s operations, and as a result we are confident that this transaction will enable us to better serve our existing and future customers,” said Plastipak’s Chief Commercial Officer Frank Pollock.
The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first quarter. Upon closing, Constar sites will be operated under Plastipak ownership.
