Dublin plastics firm in ‘transformational acquisition’
Dublin-headquartered One Fifty One, a rigid plastics manufacturer for the packaging, environmental containers, and industrial products sectors, has agreed to buy Macro Plastics for $150m.
US-based Macro Plastics is the largest manufacturer of rigid plastic bulk bins in the world and has a strong position in rigid plastic bulk packaging solutions to the agricultural and automotive sectors.
The transaction will be carried out through IPL, a subsidiary of One Fifty One.
Describing the acquisition as “transformational”, the ceo of One Fifty One, Alan Walsh, said the deal gives One Fifty One its “first significant presence on the west coast of America, providing us with a leading position in a number of growing market segments.
The acquisition also expands our geographic reach, product portfolio and customer base across the growing North and South-American markets.”
Last year Macro generated revenue of $76m, which is expected to rise to around $95m this year, while earnings before interest, taxation, depreciation, and amortisation at Macro are expected to rise to $19m this year from $16m in 2016.
The acquisition will significantly increase the size of One Fifty One, who’s revenue and earnings before interest, taxation, depreciation, and amortisation in 2016 were €348m and €55m respectively.
In April this year One Fifty One announced the sale of its ClearCircle Ireland environmental business for a total consideration of €29.75m.