Castle Harlan buys packaging companies for $200M

Private equity firm Castle Harlan Inc. said Monday it is buying plastic container maker Pretium Packaging LLC and rival PVC Container Corp. in deals valued at a combined $200 million.

The combined company will retain the Pretium name and will have annual sales of roughly $240 million and 14 manufacturing plants in the U.S. and Canada, Castle Harlan said in a press release.

The Pretium acquisition is expected to close in the first quarter, and Pretium will then acquire rival plastic container maker PVC.