Placon acquires packaging company in North Carolina
Madison, Wisconsin – Placon, one of North America’s leading thermoformers in sustainable plastic packaging, expands production capacity and employee base with the acquisition of a former packaging company Sonoco in Wilson, in North Carolina.
Placon has entered into an agreement to purchase substantially all of the operating equipment and hire more than 80 employees at the 112,000 square foot site. The agreement will meet existing capacity needs in the retail and medical markets and further expand Placon’s leadership role in thermoforming sustainable post-consumer recycled PET packaging.
Dan Gilbert, Chief Financial Officer of Placon said: “The acquisition increases Placon’s production capacity overnight to meet a rapidly growing demand for our unique and sustainable packaging solutions. In addition to expanding our national presence in the South East, Placon is delighted to see such a talented group of employees join our family. The welcome we received from the community has been incredible.
Placon is experiencing accelerated growth in all of its major markets – consumer brands, food and healthcare. The Wilson facility will immediately serve to better balance the demands of these markets. Longer term, this aligns with Placon’s business strategy to develop and serve food processor customers with product offerings such as laminated barrier solutions, OxyStar ™ mono-recyclable materials and 100% materials. EcoStar ™ PCR.
In addition to this expansion, Placon’s new cleanrooms in Elkhart, Indiana will be operational on November 1.st to double its capacity in the medical market. Dan Mohs, President and CEO, said, “Placon’s strategic plan continues to drive growth and we have chosen to address the challenges of sourcing by making strategic investments in our future.
Placon has manufacturing operations in Madison, WI; Springfield, MA; Plymouth, Minnesota; and Elkhart, IN and is currently ranked 19th in Plastics news 2021 ranking of thermoformers.
For over 55 years, Placon has been a leading designer and manufacturer of plastic packaging with a range of EcoStar® branded sustainable materials made from post-consumer recycled PET bottles and thermoforms.
Continuously setting the bar in plastic packaging solutions, Placon produces innovative retail packaging, quality thermoformed and injection molded food packaging and protective packaging for medical devices. Placon offers packaging innovations that inspire better engagement between people and products. For more information, visit www.placon.com.