Premier Plastics ("PPD") operates as a division of Premier Industries, Inc. ("Premier"). PPD is a manufacturer of injection stretch and extrusion blow molded rigid containers and other plastics products used for the packaging of food and other consumer products. PPD primarily operates in the Western United States, with manufacturing plants located in Tacoma, Washington and Lathrop, California. Premier's core business is the manufacture of expanded polystyrene ("EPS") used in the building products industry for insulation and roofing applications. Premier's EPS business has been experiencing significant growth as a result of further market penetration by existing plants and geographic expansion. In order to support the rapid growth in EPS, Premier elected to refocus its resources in its core business and divest PPD.
Zachary Scott was engaged as exclusive financial advisor to plan and execute the divestiture of Premier Plastics.
Zachary Scott organized a competitive, confidential sale process that attracted bids from both industry participants and selected private equity funds. PPD was sold to Captive Plastics, Inc., a company with complementary products covering the eastern U.S., thereby giving the consolidated entity a national footprint.