Thermoformer Placon announced today that it is expanding its production capacity and employee base with the acquisition of a former Sonoco packaging operation in Wilson, NC.
Placon, which has its headquarters in Madison, WI, has reached an agreement to purchase substantially all operating equipment and hire more than 80 employees at the 112,000-square-foot location. The deal will help meet existing capacity needs in the retail and medical markets and further expand Placon’s role in thermoforming sustainable post-consumer recycled PET packaging, said the news release.
“The acquisition boosts Placon’s production capacity overnight to serve rapidly growing demand for our unique, sustainable packaging solutions,” commented Dan Gilbert, Chief Financial Officer at Placon. “In addition to expanding our national footprint into the southeast, Placon is thrilled to have such a talented pool of employees join our family.”
Placon reports that it is experiencing accelerated growth in all of its primary markets — consumer brands, food, and healthcare. The Wilson facility will immediately serve to better balance the demands of these markets. Longer term, the acquisition aligns with Placon’s business strategy to grow and serve food processor customers with product offerings such as laminated barrier solutions, OxyStar mono-recyclable material, and EcoStar 100% PCR materials.
Placon also announced today that new cleanrooms at its Elkhart, IN, facility will be operational on Nov. 1, doubling its capacity in the medical market.
The company has manufacturing operations in Madison, WI; Springfield, MA; Plymouth, MN; and Elkhart, IN.