In order to expand upon its blow molding capabilities and geographic reach, Pretium Packaging, maker of short-to-medium run PET and HDPE blow-molded containers and closures for numerous industries including beauty, has acquired Custom Blow Molding (CBM).
CBM now has the ability to offer our customers our combined footprint across North America. - Executive Vice President Joe Abbott
Based in Escondido, California, CBM is known as a supplier of plastic containers and closures for top brands in the sports nutrition market serving customers from their locations in Escondido, Carrollton, Texas and Aurora, Illinois.
Chesterfield, Missouri-based Pretium will retain the CBM brand, and both CBM's President and CEO Bill McNeal and Executive Vice President Joe Abbott will join Pretium’s leadership team where they will continue to lead the CBM business into its next phase of growth.
“Joe and I wanted to join a company where we could continue driving CBM’s culture of supporting our customers with innovative designs, rapid product implementation and highly responsive manufacturing sites," said McNeal. "Early in the process, we recognized the potential of a merger of CBM and Pretium as being greatly beneficial to both companies and to CBM’s customers.”
Abbott said, “CBM now has the ability to offer our customers our combined footprint across North America as well as leverage Pretium’s extensive PET capabilities to continue providing our customers with highly responsive [manufacturing] solutions."
Partnered with its financial sponsor, Genstar Capital, Pretium plans to complete more acquisitions in the future.