Silgan Holdings, the leading provider of sustainable rigid packaging solutions for consumer goods products, has recently acquired Unicep Packaging. As a specialized contract manufacturer and developer (SCMD) solutions provider, this company develops, formulates, manufactures and sells precision dosage packaging solutions, such as diagnostic test components, oral care applications and skin care products, primarily for the healthcare, diagnostics, animal health, oral care and personal care markets.
Specifically, Unicep has two manufacturing plants located in Spokane, Washington and Sandpoint, Idaho and is expected to generate approximately $45 million in sales. The purchase price was $237 million.
Adam Greenlee, President and CEO notes, %22Unicep is a clear leader in the rapid development and manufacture of differentiated precision dispensing packaging solutions for healthcare, diagnostic and personal care applications. This acquisition further expands our precision dispensing capabilities and our comprehensive product offerings in new and existing markets.
He further details that the Unicep team has combined a high-touch business philosophy with a proprietary operating platform to excel in meeting the unique requirements of its customers.
%22The business broadens our exposure to the healthcare and point-of-care diagnostics markets, has existing capacity for continued growth, complements our global dispensing and specialty closures franchise and is scalable across our global footprint. We believe the acquisition of Unicep represents another example of our disciplined capital allocation model that has enabled Silgan to consistently create long-term shareholder value,%22 notes Greenlee.
With this new acquisition, Silgan expects to slightly increase its earnings for the remainder of the year and expects to see an increase in its taxable income of around $35 million.
