Good Natured Products buys Illinois-based sheet extruder Ex-Tech Plastics
Good Natured Products Inc. has been acquiring companies to support growth of bio-based packaging.
A company preaching the gospel of polylactic acid-based bioplastics is working to convert processors of conventional plastics, one company at a time — or three in 12 months.
Good Natured Products Inc. of Vancouver is acquiring sheet extruder Ex-Tech Plastics Inc. of Richmond, Ill. Good Natured has agreed to pay US$14.1 million for all of Ex-Tech's operating assets along with real estate owned by a related company, ETP Inc.
Those assets include Ex-Tech's 75,000-square-foot facility on 9 1/2 acres of land. Ex-Tech operates seven extrusion lines, serving customers in the food, retail and medical packaging markets, among others. Its customers primarily are in the U.S. Midwest and Southeast. It recorded 2020 sales of US$25.8 million (C$33 million), generated profit of about US$1.5 million and delivered EBITDA of about US$2.6 million.