This acquisition is seen as a step forward for Rieke Dispensing and its portfolio of foamers and airless dispensers as Lion Holdings complements its existing offering.
Headquartered in Greater Noida, India, Lion Holdings specialises in the manufacture of highly engineered dispensing solutions.
From its three locations in India and Vietnam, Lion Holdings generated approximately $10 million in revenue for the 12 months ended June 30, 2014.
“We are pleased to add Lion Holdings to our portfolio of Packaging companies,” says Dave Wathen, president and chief executive officer of TriMas Corporation. “This acquisition complements our growth strategies to follow our packaging customers into high growth regions of the world.”
Expansion
Rieke is one of the world’s largest manufacturers of foamers and airless dispensers and its current product portfolio enables the company to offer its customers a comprehensive single-source solution for all their packaging requirements.
The company says that the addition of the Lion Holdings’ product range and facilities will further strengthen its ability to provide a localised service combining enhanced design and innovation capabilities with rapid speed to market and global manufacturing flexibility.
“This acquisition clearly broadens our Asian market coverage and extends our geographic reach, while also providing significant customer and product synergies,” said Lynn Brooks, president of TriMas’ Packaging segment.
“Lion Holdings will also provide us additional capacity to support our ongoing growth initiatives in Asia, while continuing to create a responsive, global supply chain.”
Asia boost
It has been a positive time for Rieke in Asia after its cosmetics and personal care manufacturing facility in Hangzhou, China, secured the highest rating from the British Retail Consortium, earlier this month.
The BRC awarded Rieke a grade ‘A’ status Global Standard for Packaging and Packaging Materials with respect to its overall manufacturing standards, including quality and safety.
The Rieke facility produces moulding and assemblies for dispensing systems, including pumps and closures used in personal care, perfumes and cosmetics, as well as some household and food products.