MOSCOW (MRC) -- Global rigid container and life sciences packaging distributor Novvia Group has acquired Fox Valley Containers Inc., a distributor of plastic, metal, corrugated, and glass packaging products, said Canplastics.
The financial terms of the private transaction were not disclosed. Headquartered in Crystal Lake, Ill., Fox Valley is a distributor of cans, pails, drums, bottles, jars, and other rigid packaging products. The company has five warehouse locations throughout the Upper U.S. Midwest.
The existing Fox Valley management team will remain in place to drive the company’s next phase of growth, Novvia officials said in an Oct. 25 news release.
"Fox Valley has long enjoyed a leading reputation in its markets, and we are thrilled to welcome the company’s employees, customers, and suppliers to the Novvia family,” said Sarah Macdonald, CEO of Novvia. “Our partnership with Fox Valley represents the latest step in Novvia’s ongoing effort to continually augment our capabilities in order to deliver a world-class value proposition to our customers."
As it was informed earlier, a group of U.S.-based packaging suppliers all owned by private equity firm Kelso & Co. have united to form a new holding company called the Novvia Group. The companies – Inmark, C.L. Smith, Silver Spur and Container Supply – will serve as a new national stocking distributor for both domestic and international customers.
According to ICIS-MRC Price report, in Russia, October prices of Nizhnekamskneftekhim's GPPS were in the range of Rb152,750-163,700/tonne CPT Moscow, including VAT, and HIPS prices were at Rb156,750-167,700/tonne CPT Moscow, including VAT. Penoplex contracted its GPPS quantities at Rb169,000-171,000/tonne CPT Moscow, including VAT, in October, whereas last week's prices of Gazprom neftekhim Salavat's GPPS were heard at Rb152,500-156,500/tonne CPT Moscow, including VAT.
Novvia is headquartered in St. Louis, Mo.