|"Seamless" PET jars are
a specialty of Olcott Plastics.
Pretium Packaging (Chesterfield, MO), a manufacturer of plastic containers and closures, announced that it has acquired Olcott Plastics Inc. (St. Charles, IL), a supplier of primary packaging to premier beauty and healthcare companies. Olcott bolsters Pretium’s injection molding and personal care/beauty offerings, while Pretium allows Olcott to offer blowmolded containers and a national footprint to its customers, Pretium said in a press release.
Fifty-year-old Olcott specializes in injection molding and decorating single- and double-wall polypropylene (PP) jars, so-called seamless PET jars and injection molding and lining PP closures. Many of its original customers from 1969, who were serviced from the back of the family station wagon, still buy from the company today.
Pretium said that it will retain existing employees and management of Olcott.
“We are pleased to welcome co-owners Joseph M. Brodner and John Brodner, and the Olcott employees, to the Pretium organization,” said Paul Kayser, President and CEO. “The acquisition brings significant beauty-care packaging expertise and a robust product line to the Pretium portfolio, which nicely complement the health and beauty-care packaging offerings already in our portfolio.”
“Joining forces with Pretium is a perfect fit for the next chapter of Olcott Plastics,” commented Joseph and John Brodner. “We are excited to be able to offer our customers a broader product portfolio and national footprint while continuing to provide the same level of service they are accustomed to receiving from Olcott. We believe this transaction will be beneficial to both our customers and employees,” they added.
Pretium is a portfolio company of Genstar Capital, and Olcott is Pretium’s sixth acquisition since Genstar took ownership of the company in 2014. P&M Corporate Finance (PMCF) served as Olcott’s financial advisor in the transaction.