Kevin Spradlin
CUMBERLAND — The owners of one of the nation’s leading injection-molded plastic packaging have agreed to acquire Superfos Packaging Inc., located in Mexico Farms on PPG Road.
The $82 million deal was announced Tuesday in a joint news release.
Superfos Chief Executive Officer James Mason said the deal, which won’t be official for up to another 60 days, is a “very good thing.”
“I believe it’ll be very positive for all of our employees,” Mason said of the 180-strong local work force. “Berry Plastics is an outstanding firm. They intend to keep us here in Cumberland (and) look to our strengths and continue to support the way we’ve been growing. I think it is going to be an extremely positive situation for Superfos as well as Berry and certainly for our employees. They’re our main concern.”
Mason said it is premature to discuss details of potential impact on the work force because the deal is not yet finalized. The due-diligence period, he said, “doesn’t allow us (to have) communications between the two companies. We continue to be a part of Superfos A/S.”
Mason added that “everyone should remain in their (current) positions” after the deal becomes final.
The local company has expanded four times since coming to Allegany County in 1986. Workers make open-top plastic containers for food, industrial and household chemicals, and automotive and marine products.
Berry Plastics Corp., an Evansville, Ind.-based company, has been in the plastic packaging business since 1967, when it was known as Imperial Plastics. Berry Plastics is one of the largest plastic packaging manufacturers in North America, according to a news release on www.superfos.com.
“The sale to Berry demonstrates Superfos’ strong track record of creating value in its individual business activities,” said Hans Pettersson, CEO of Superfos A/S of Taastrup, Denmark.
The annual turnover for 2008 was $46.8 million, the news release said.
“The U.S. business is a strong and largely independent operation which is capable of thriving either on its own or as a part of a larger group,” Pettersson said. “We have our biggest market in Europe and see significant future growth opportunities. Therefore, it is a logical step to sell the American operations now in order to focus on further development of our European business.”
In 2006, the investment groups Apollo Management LP and Graham Partners Inc. acquired Berry Plastics Corp. and retained the Berry Plastic Corp. management team.
“We believe that the ownership under Berry will create more value and opportunities for the U.S. activities,” Pettersson said. “The transaction with Berry offers the employees in the U.S. an excellent opportunity to continue their successful development within a major U.S. plastic packing manufacturer.”
Adam Unfried, president of Berry’s rigid open top division, said in a news release “that the Superfos product line will provide great enhancements to Berry’s offerings,” according to PlasticsNews.com. “Superfos employees have built an extremely successful company with a strong reputation for customer service and product development.”
Berry Plastics Corp. has more than 60 manufacturing facilities worldwide and nearly 13,400 employees, according to PlasticsNews.com.
Contact Kevin Spradlin at kspradlin@times-news.com.
