Southfield, MI – CFI USA (P&M Corporate Finance) is pleased to announce that Olcott Plastics has joined forces with Pretium Packaging, a portfolio company of Genstar Capital, through an acquisition transaction. Olcott meaningfully bolsters Pretium’s injection molding and personal care/beauty offerings while Pretium allows Olcott to offer blow molded containers and a national footprint to its customers.
For the past 50 years, Olcott has created a strong brand as a leading supplier of primary packaging to premier beauty and healthcare companies. It specializes in injection molding and decorating of single and double wall polypropylene (PP) jars, “seamless” PET jars as well as injection molding and lining of 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.
“We are pleased to welcome co-owners Joseph M. Brodner and John Brodner, and the Olcott employees, to the Pretium organization. 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. We are proud to add Olcott to our family of brands,” said Paul Kayser, president and chief executive officer of Pretium.
“Joining forces with Pretium is a perfect fit for the next chapter of Olcott Plastics. 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,” said Joseph and John Brodner.
David Golde, managing director at Genstar Capital, stated, “Genstar is excited to be sponsoring Pretium’s acquisition of Olcott, which is the sixth acquisition completed during Genstar’s ownership. Olcott brings to Pretium significant expertise and market presence in injection molding and personal care packaging, both of which represent key areas of continued investment and growth for Pretium.”
Olcott selected John Hart and the Plastics & Packaging Group to serve as the company’s M&A advisor in the transaction. Joseph and John Brodner noted, “John Hart and his team were instrumental in making this a highly successful transaction. Their packaging industry knowledge, hands-on approach, and assistance with transaction planning over a multi-year time period were particularly valuable in helping us achieve our goals with this transaction. We would highly recommend John Hart and the Plastics & Packaging Group to other packaging companies considering a transaction.”
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