Portage Plastics acquires Florida plastics division

Hyde Park Capital Advisors, LLC announced the sale of Paradise, Inc.'s plastics division, a manufacturer of plastic products, to Portage Plastics Corporation on June 15. Hyde Park Capital served as the exclusive investment banker to Paradise for this transaction.

"Portage Plastics has a long history of providing quality products to their customers. We are very excited and pleased Portage has acquired our plastics division and look forward to adding our products and services to theirs as the joining of forces will improve the business growth resulting in a stronger presence in the marketplace," said Randy Gordon, Paradise, Inc. president and CEO.

"In August 2019, we advised the Paradise management team on the sale of their candied fruit business to Seneca Foods Corporation. It is great to see another division of their business go to a worthy owner, Portage Plastics. It has been great to work alongside Randy Gordon and Paradise's legal, accounting, and management teams throughout the transaction process to find the right strategic partner," said John McDonald, senior managing director of Hyde Park Capital.

"Portage Plastics is excited to bring the history and technical skills of Paradise Plastics into our group. In addition to thin-gauge thermoforming, adding heavy-gauge thermoforming and tool making ability to Portage Plastics is a tremendous value-add. We look forward to the integration process and building an even greater company together," said Dan Joyce, president and CEO of Portage Plastics.