Vancouver-based bioplastics maker Good Natured Products Inc. is acquiring Ex-Tech Plastics Inc., an extruder of rigid plastic sheets headquartered in Richmond, Ill., for US$14.1 million.
The deal includes all of Ex-Tech’s operating assets along with real estate owned by a related company, ETP Inc.
Founded in 1982, Ex-Tech operates seven different extrusion lines in a dedicated 75,000-square-foot facility, and serves the retail, food, and medical packaging sectors. Its customers are primarily located in the midwestern and southwestern U.S.
“[Our] long-standing partnership with Ex-Tech…dates back well before March 2016 when we acquired Ex-Tech’s bioplastic division,” said Good Natured Products’ CEO Paul Antoniadis. “The combined entity positions us as one of North America’s leading commercial sheet extruders, serving over 200 thermoforming packaging companies across North America. This acquisition firmly secures the company’s market positioning within our industria