History
The Anchor-Hocking Corp. was purchased by the Newell Group in 1987. Newell Group focuses on consumer products and was interested in Anchor Hocking because of their tableware products. Newell had intended to sell Anchor Hocking's packaging companies, which included Anchor Cap & Closure.
In 1992 Newell agreed to sell Anchor Hocking Packaging and Anchor Cap & Closure to CMB (Carnauld Metal Box), a large European packaging group. CMB was only interested in Newell's metal closure operations and did not amend its purchase price to reflect the plastic business.
Management, successfully bid for the plastics division of Anchor Cap and Closure in a deal which closed December 24, 1992. CMB purchased the rest of the packaging group December 31, 1992.
In December of 2006, Plasticap was acquired by a private equity group including new participants with extensive technical know how and proven business acumen, with an intense hands on approach to the developmental growth of the business.