Business

Solo to buy Georgia container company

Posted March 31, 2010 11:00 pm

Solo Cup Company, a provider of single-use products used to serve food and beverages, announced it's buying take-out container maker InnoWare Plastic for $24 million.

Lake Forest-based Solo was scheduled to close on the deal with the Georgia company Wednesday.

"Take-out is an important growth platform for Solo's customers," said Robert M. Korzenski, president and chief executive officer, Solo Cup Company."This transaction also represents an important milestone for Solo. Our work in recent years to right-size and refinance our company has successfully repositioned Solo for growth. We leveraged that position today with the addition of this important product line to Solo's portfolio."

Solo Cup Company is a $1.5 billion company exclusively focused on the manufacture of single-use products used to serve food and beverages for the consumer/retail, food service and international markets.

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