ST. PETERSBURG, FL –
Jabil Circuit, Inc. (NYSE: JBL) today affirmed it has completed its acquisition of Nypro, Inc., a provider of manufactured precision plastic products for customers in the Healthcare, Packaging and Consumer Electronics industries. The definitive agreement was announced on February 4, 2013.
"We are pleased to finalize this transaction and look forward to integrating the Nypro business and customers with Jabil’s current Healthcare & Instrumentation business," said Courtney Ryan, Jabil’s Senior Vice President who will run the business from the current Nypro headquarters in Clinton, Massachusetts. "This is an exciting time for both companies and we look forward to collectively serving customers with a broad array of service offerings in the healthcare and plastic packaging marketplaces under the Nypro name," he said.
The combined entity of Jabil and Nypro is expected to bolster their position in key markets, such as healthcare and expand the market in packaging for customers in the food and beverage, household and personal care industries. The Consumer Electronics portion of Nypro’s business will be integrated into Jabil’s Materials Technology Services.
Approximately 10,000 Nypro employees will become Jabil employees. The Nypro trade name will be retained and used to jointly market services to customers in the healthcare and packaging markets for Jabil. The united team will work together to jointly market their integrated services.
The acquisition purchase price was $665 million, funded from Jabil’s existing cash and credit facilities. Jabil has indicated that the transaction is expected to be accretive to earnings per share in its fiscal 2014, which begins September 1, 2013.
J.P. Morgan acted as the exclusive financial advisor to Jabil in this transaction, and Holland & Knight LLP acted as Jabil's legal counsel in this transaction.