Lacerta Group Announces Acquisition of Portage Plastics Assets
MANSFIELD, Mass.--(BUSINESS WIRE)--Jan 9, 2023--
Lacerta Group (“Lacerta”) announced that on December 21 it acquired substantially all the assets of Portage Plastics Corporation and PPC Investments, LLC (together, “Portage Plastics”), a manufacturer of thermoformed packaging products based in Portage, WI. As part of the transaction, Lacerta has retained over 50 Portage Plastics employees.
Lacerta is a leading North American provider of innovative and sustainable thermoformed packaging solutions, primarily made from PET. Lacerta offers a comprehensive product portfolio and in-house design capabilities, with a particular focus on customers in the prepared food and fresh produce segments. Lacerta is a market leader in fully recyclable packaging containing post-consumer resin, which is increasingly gaining importance as its customers seek out more options to meet their sustainability targets.
“We are excited to acquire a great manufacturing site in Portage, Wisconsin and welcome a talented group of dedicated associates to the Lacerta family,” said Peter Lennox, CEO of Lacerta. “This transaction is an important step in Lacerta’s growth story and will allow us to better serve our expanding customer base in the Midwest and Central United States.”
Lacerta plans to make near-term investments to grow capacity and leverage this attractive location and strong workforce. Since partnering with SK Capital Partners in December 2020, Lacerta has made significant investments to expand its production capacity and capabilities at its facilities in Mansfield, MA and Chatsworth, CA to support growth and maintain industry-leading quality and service.
Lacerta will continue to seek opportunities to expand its geographic presence across North America as it looks to better serve its growing customer base.
About Lacerta Group
Founded in 1993, Lacerta Group, LLC (“Lacerta” or the “Company”) is a leading provider of innovative thermoformed packaging solutions. The Company offers a comprehensive range of custom PET packaging products, including a leading line of tamper-evident products sold under the “Fresh N’ Sealed” brand. Lacerta has built its reputation based on product quality, innovation, customer service and speed to market. The Company offers a comprehensive product portfolio and in-house design capabilities, with a customer-centric business model focused on tailored solutions for food processors and supermarkets. Lacerta’s fully integrated manufacturing platform includes capabilities across the product lifecycle in design & engineering, prototyping, mold-making & tooling, thermoforming, extrusion, and printing. Headquartered in Mansfield, Massachusetts, Lacerta operates four facilities in Mansfield and one in Chatsworth, California. Lacerta is a portfolio company of SK Capital Partners. For more information regarding Lacerta, please visit www.lacerta.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230109005064/en/
CONTACT: Jeremy Milner
KEYWORD: WISCONSIN MASSACHUSETTS NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FINANCE MANUFACTURING PROFESSIONAL SERVICES PACKAGING CHEMICALS/PLASTICS
SOURCE: SK Capital Partners
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PUB: 01/09/2023 09:00 AM/DISC: 01/09/2023 09:02 AM