Jabil pays $665M for plastics manufacturer
St. Petersburg's Jabil Circuit is buying a Massachusetts-based maker of precision plastic products for about $665 million, bolstering its presence in the health care, packaging and consumer electronics industries.
Jabil CEO Tim Main said the acquisition of Nypro Inc. also will be "an important strategic step" in the development of engineering and capability intensive businesses.
Already the biggest global employer based in the Tampa Bay area with about 140,000 employees, Jabil is adding Nypro's network of 12,000 employees and manufacturing operations in 10 countries. Nypro has more than $1 billion in annual revenues.
The deal will be funded with Jabil's existing cash and credit facilities.
Shares in Jabil closed Monday at $19.24 apiece, down 12 cents, or less than 1 percent.