Peninsula Packaging Co. expands agricultural thermoforming division

With the purchase of two thermoforming plants, Peninsula Packaging Co. expands both its agricultural thermoforming business and geographical footprint.

Peninsula Packaging Produce

With the acquisition, Peninsula now owns thermoforming plants in Hollister, CA, and Yakima, WA, according to Mark Semer, managing director at Kekst and Co., a New York-based public relations firm contracted by Peninsula. The company's existing thermoforming operations are located in Exeter, CA, and Wilson, NC.

"This acquisition of this thermoforming business enhances the service offering for Peninsula customers by expanding our geographic footprint and increasing the breadth of our product offering in fresh produce, including in berries, salads, specialty and other produce, and complementing our work in the bakery industry," Semer told PlasticsToday.

According to its website, Peninsula is the second largest thermoformer of fresh produce packaging in the US. Peninsula's annual sales in 2009 were estimated at $85 million. In 2010, Odyssey Investment Partners LLC, a middle-market private equity firm, bought Peninsula.

Craig Staub, a Managing Principal of Odyssey Investment Partners, stated in the news release, "We have been pleased to support Peninsula's growth over the past two years and are excited to work with management as the company expands its industry-leading position."

Peninsula touts its eco-friendly policy, and states it uses more than 25 million pounds of recycled PET a year. Peninsula has a 10-acre solar farm in Exeter that provides 50% of the power needed for its 350,000-sq-ft plant. The 1.1 megawatt photovoltaic solar farm is the largest privately funded solar installation of its type in North America, according to a news release.