Clear Lam sells thermoforming division to D&W Fine Pack
Elk Grove Village-based Clear Lam Packaging Inc. said it hs sold its thermoforming division to D&W Fine Pack based in Fountain Inn, S, C. Terms of the sale were not announced.
With annual sales of approximately $80 million, the Clear Lam thermoforming Division is a major supplier of food packaging containers made from polyethylene terephthalate and polylactic acid to North American food processors and retailers. The sale includes facilities located in Elk Grove Village, Vernon, Cal., and one international facility in Nanjing, China.
“We are big believers in the thermoforming sector and believe that the combination of our companies will make the business uniquely qualified to serve the marketplace,” said James Sanfilippo, President and CEO of Clear Lam Packaging, Inc. “We also recognize that scale is important for sustained growth in our industry and we expect our customers to benefit from the addition of D&W Fine Pack’s other thermoforming product offerings and diverse manufacturing locations.”
D&W Fine Pack, a Mid Oaks Investments portfolio company, is among the largest food service packaging companies in North America. Offering a broad line of food service and food packaging, including tableware, containers, cutlery, straws and meal kits, the company continues its commitment to expansion and customer responsiveness through the development of unique and innovative packaging and materials solutions across all major substrates used in the industry.
“Combining Clear Lam Thermoforming with D&W’s existing portfolio of businesses will add innovative products and strengthen our focus on sustainability and environmental stewardship,” said Mark Staton, president and CEO, D&W Fine Pack. “With demand for renewable packaging materials growing, Clear Lam has made great strides in bringing new designs and technologies to market and we’re excited to tap into their technical expertise.”
Clear Lam will continue to own and operate three other divisions, which accounted for over 65 percent of company revenue in 2011. Clear Lam plans to expand its flexible films and forming films divisions and anticipates explosive growth in its CL polymers unit.
“Clear Lam will continue to invest in new technologies that provide innovative solutions to our customers while reducing costs,” said Sanfilippo. “Developing new packaging structures that incorporate renewable raw materials or recycled content and designs that allow for light weighting will remain key areas of focus for the next several years.”