Lacerta Group Announces Acquisition of Portage Plastics Assets
Lacerta Group said that it had bought all the assets of Portage Plastics Corporation and PPC Investments, LLC, a company in Portage, Wisconsin, that makes thermoformed packaging products. As part of the transaction, Lacerta has retained over 50 Portage Plastics employees.
Lacerta is one of the largest companies in North America that makes innovative and environmentally friendly thermoformed packaging solutions, most of which are made from PET.
Lacerta has a wide range of products and can design them in-house. The company focuses on customers in the prepared food and fresh produce markets. Lacerta is the market leader when it comes to fully recyclable packaging made from post-consumer resin. This is becoming more and more important as Lacerta's customers look for more ways to meet their sustainability goals.
Peter Lennox, CEO of Lacerta, said, "We are excited to buy a great place to make things in Portage, Wisconsin, and to welcome a talented group of dedicated employees into the Lacerta family. 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 investments in the near future to increase capacity and take advantage of this great location and strong workforce. Since partnering with SK Capital Partners in December 2020, Lacerta has made a lot of investments to increase its production capacity and capabilities at its Mansfield, MA, and Chatsworth, CA, facilities. This is to support growth and keep its quality and service at the top of the industry.
Lacerta will keep looking for ways to spread out across North America so that it can better serve its growing customer base.
Source: BUSINESS WIRE
