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By Jessica Hobrook | PLASTICS NEWS STAFF
Posted February 27, 2012 BLOOMFIELD HILLS, MICH. (Feb. 27, 1 p.m. ET) -- TriMas Corp. recently acquired packaging manufacturer Arminak and Associates LLC for $64 million, Arminak makes foamers, pumps, sprayers and other packaging for cosmetics, personal care and household products.
In a deal that closed Feb. 24, TriMas purchased 70 percent of Arminak. The agreement gives TriMas the option to purchase the remaining 30 percent, according to a Feb. 27 news release.
Arminak, which is based in Azuka, Calif., is now part of TriMas’ Reike Packaging Systems business. Arminak generated approximately $60 million in sales for the fiscal year ending Dec. 31, according to the release.
Rieke, based in Auburn, Ind., manufactures steel and plastic industrial and specialty closures. In August 2011, it acquired Innovative Molding Inc. for $27 million.
TriMas, based in Bloomfield Hills, Mich., has six business segments: packaging, energy, aerospace and defense, engineered components, Cequent Asia Pacific and Cequent North America. They employ approximately 4,100 at more than 60 facilities in 15 countries.
TriMas reported net sales of $1.084 billion in 2011, an increase of 20.1 percent compared to 2010.
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