The Genstar Capital-owned business will increase its US manufacturing locations to 17 while it will operate more than 300 production lines across its portfolio.
Cox Containers, which specialises in HDPE extrusion blow moulding, operates primarily within the food, beverage, dairy and industrial packaging markets. The Alabama facility offers the company opportunities for future manufacturing expansion.
Paul Kayser, chief executive of Pretium, said: “We are pleased to welcome the Cox leadership team and employees to the Pretium organisation. The acquisition brings additional HDPE manufacturing capability to Pretium and gives us a strategic foothold in the Southeast. We will now be able to capitalise on the strong growth Cox has experienced over the past couple of years to better serve our combined customers. Additionally, we are aggressively looking to add other exceptional regional companies to our portfolio.”
Ken Cox, president of Cox Containers, added: “Under Pretium ownership, we will now have the ability to offer our customers new products by leveraging Pretium’s extensive PET capabilities, as well as a manufacturing footprint across North America. We are excited to be a part of the Pretium team.”
Founded in 1992, Pretium Packaging is one of North America’s major manufacturers of plastics containers and closures for a wide range of products. Pretium produces approximately two billion PET and HDPE units annually for more than 700 customers across the US and Canada.
Earlier this year, Pretium expanded its Texas-based facility to support growing demand for PET bottles, while its Illinois facility is undergoing expansion to provide additional manufacturing and warehousing space. Previous acquisitions made by Pretium in the last four years include rigid packaging products manufacturer Tri-Delta and industrial packaging company Patrick Products Inc.