Auburn Company Parent Makes International AcquisitionPosted: Updated:
The parent company of Auburn-based Rieke Packaging Systems has acquired an Indian company. TriMas Corp. says the $27 million deal for Lion Holdings Pvt. Ltd. is part of ongoing efforts to grow in Asia and create a global supply chain.
July 28, 2014
Auburn, Ind. -- On July 25, 2014, TriMas Corporation, Rieke Packaging Systems’ parent company, acquired Lion Holdings Pvt. Ltd. for $27 million. Lion Holdings will be integrated into TriMas' Rieke Packaging Systems business.
Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10 million in revenue for the 12 months ended June 30, 2014.
"This acquisition clearly broadens our Asian market coverage and extends our geographic reach, while also providing significant customer and product synergies," said Lynn Brooks, president of TriMas' Packaging segment. "Lion Holdings will also provide us additional capacity to support our ongoing growth initiatives in Asia, while continuing to create a responsive, global supply chain."
Rieke, founded in 1921, designs, manufactures and distributes innovative, highly-engineered closure and dispensing products including steel and plastic closure caps, drum and pail enclosures, rings, levers and specialty dispensing systems, such as pumps, foamers and specialty sprayers. Rieke is a global company with locations in Auburn and Hamilton, Indiana; Arkansas; California; Australia; China; France; Germany; Mexico and United Kingdom.
About Rieke Packaging Systems
Headquartered in Auburn, Indiana, Rieke Packaging Systems has built its worldwide reputation on setting the standards in the packaging industry since 1921. The company is a leading designer, manufacturer and distributor of premium-quality packaging products for the global commercial, industrial and consumer sectors. Rieke has market leadership in steel and plastic closure caps, drum enclosures, ring and levers, and specialty dispensing systems.
Source: Rieke Packaging Systems