Spokane-based Unicep Packag–ing LLC has been acquired by a Connecticut-based sustainable packag–ing maker for $237 million.

Silgan Holdings Inc. completed its acquisition of Unicep on Sept. 30, according to a press release.

A representative of Unicep couldn’t be reached immediately for comment.

Unicep makes pharmaceutical unit-dose packaging materials, such as tube filling, syringe filling, form-fill pouch sealing, disposable SwabDose containers, and custom-fill options  made from recyclable plastic. The company is headquartered on the West Plains, at 1422 S. Grove Road, and has an additional facility for research and development and manufacturing in Sandpoint.

In the release, Silgan states that Unicep is projected to earn about $18.3 million before interest, taxes, and depreciation in 2021. Unicep’s total sales are projected at about $45 million. 

Silgan President and CEO Adam Greenlee refers to Unicep as a “clear leader” in the development and manufacturing of dosing dispensing packaging for health care, diagnostics, and personal care. He adds, “This acquisition further expands and extends our precision dosing capabilities and comprehensive product offering into new and existing markets.”

Silgan makes sustainable rigid packaging for consumer goods, ranging from food to gardening products. Last year, Silgan had net sales of about $4.9 billion. The company operates 112 manufacturing facilities in North America, South America, Europe, and Asia.

“The business broadens our exposure to health care and point-of-care diagnostics markets, has existing capacity for continued growth, complements our global dispensing and specialty closures franchise, and is scalable across our global footprint,” Greenlee says.

Silgan Holdings trades on the Nasdaq stock exchange under the symbol SLGN. As of market close on Nov. 1, Silgan was trading at $40.10 per share. In the past year, Silgan’s stock has traded at between $33.62 and $44.55 a share.  

Unicep was founded by John Snedden in Sandpoint in 1991. As previously reported by the Journal, two Unicep executives, Marcus Anderson and Clint Marshall, bought the assets of the company from Snedden in 2012.

In 2014, Unicep acquired a new manufacturing line which produces SwabDose products, which are sealed single-dose products with enclosed applicators. Unicep moved its Spokane County operations in 2015 to its current 100,000-square-foot facility, a former Odom Corp. warehouse, from a building in Liberty Lake.

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