US packager bought by Bear Sterns
private equity firm Bear Stearns Merchant Banking.
John Henry's activities span the pharma, floriculture and horticulture sectors, but it is best known in the drug industry for its John Henry Packaging and Pharmalabel divisions, which supply the healthcare sectors.
The company produces labels, package inserts, cartons, blister cards and flexible films, and also specialises in digital print technology.
Tim Schultz, president of John Henry's packaging division, said the acquisition positions the company "to expand our efforts to develop and acquire operations close to our customers, no matter where they operate, further expand our product offerings while continuing to enhance our quality systems."
The company also said its commitment to the pharma sector remains firm, despite the change in ownership. "Pharmaceutical packaging has fueled our growth for 10 years," it pointed out.
Financial terms of the acquisition were not disclosed.
