Texen, the plastic packaging arm of PSB Industries, has acquired injection moulder Mar-Lee Companies for an undisclosed sum.
The acquisition strengthens beauty packaging specialist PSB Industries' international presence.
Boston-based Mar-Lee Companies, which manufactures medical device components as well as lids and tubes for consumer products, is expected to expand into beauty packaging.
Mar-Lee president John Gravelle told Telegram.com: 'It's the right buyer. A strategic buyer was very, very important to us. We're not interested in selling to a financial investor that would roll us up into a bigger company and maybe let people go.'
Mar-Lee, which recorded of revenue of $19.6m in 2007, will continue to manufacture for the medical device and consumer products industries.
