MONTREAL—Knowlton Development Corp. is stepping up its U.S. presence with the acquisition of a U.S. packaging company that specializes in personal care products.
The Longueuil, Que.-headquartered business said Dec. 12 it has purchased Manitowoc, Wisconsin’s Northern Labs Inc. for an undisclosed price.
The U.S. company operates a 275,000 sq. ft. facility in the Midwest U.S. state and employs about 200 workers. Along with packaging personal care products, KDC said Northern Labs “significant opportunity” to expand into packaged home and industrial products.
Following the acquisition, KDC will have 10 plants across the U.S. and Canada.
Though the Canadian contract packager did not disclose the financial terms of the deal, it said it will be financed by private equity firm Novacap, as well as La Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Investissement Québec and Export Development Canada, among others.