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. About Jabil Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and aftermarket product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 29 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL.” Further information is available on Jabil’s website: jabil.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV