Suffolk, UK-based M&H said that the acquisition would see HPL become a division of the group, with its 70 Liverpool-based staff now becoming full-time employees of the privately-owned group.
The move means the group's staff size will grow to around 700 and sees the company diversify from its core capabilities, which is standard-size bottles and caps as well as custom moulded packaging for the beauty and health market.
Currently HPL is one of Europe's largets suppliers of single heavy-walled PP and SAN jars.
But equally the company pointed out that its decoration capabilities will bring further value to the HPL capabilities, enhancing the options available to the business's existing customer base.
M&H Plastics chose to make the announcement at last week's In-Cosmetics, in Barcelona, stating that the event provided a strong platform to communicate the acquisition.
Although the company did not reveal any further details about the acquisition, including the price, it did say that the move would inevitably lead to restructuring of the Liverpool site in an effort to improve efficiencies and make the business a better fit.
"HPL is an excellent addition to the M&H Group, further strengthening the wide range of packaging products and services available to our customers," said Mark Bryant CEO of M&H Plastics.
M&H Plastics was itself acquired by JP Morgan Chase's private equity arm for an undisclosed sum back in March 2003 and streamlined its operations during the course of the following year.