TriMas Corp. (Nasdaq: TRS) has acquire Lion Holdings Pvt. Ltd. for $27 million.
Lion Holdings, headquartered in Greater Noida, India, manufactures dispensing products, such as tops for spray bottles and pumps for bottles. The company has been added to TriMas' group of packaging companies.
TriMas says the acquisition broadens its Asian market coverage and extends its geographic reach. The Bloomfield Hills, Michigan-based buyer provides engineered and applied products for the packaging, energy and aerospace and defense markets.
In October, the company bought Mac Fasteners Inc., a manufacturer and distributor of stainless steel aerospace fasteners for equipment manufacturers, for $34 million.
Other buyers have also made acquisitions in the packaging space. In June, Georgia-Pacific Consumer Products LP agreed to buy SPG Holdings LLC, and before that, Bain Capital bought Envision Plastics and Ecoplast Corp.
For more on the packaging sector, see "Finance Finesse: Lenders Show Love for Packaging."