Diversified manufacturer Myers Industries Inc. (Akron, OH) will acquire ITML Horticultural Products Inc. (ITML; Ontario, Canada), a processor of plastic containers and related products for professional floriculture/horticulture grower markets in North America. Terms of the transaction, which is expected to close in early 2007, were not yet made public.
This transaction increases Myers grower and distributor market share in Canada and in the southern and western U.S. ITML has six facilities located in Canada and the U.S. and has captive injection molding, blowmolding, and thermoforming operations. ITML will be integrated into Myers Industries'' Lawn and Garden Segment, which accounted for $170.4 million of Myers Industries'' total net sales in 2005, and will operate as a strategic business unit within the segment.[email protected]