St. Louis food packaging company Anchor Packaging says it has acquired Janesville plastic packaging manufacturer Panoramic.
According to an announcement on Anchor Packaging’s website, the company acquired Panoramic in large part to bolster the packaging options it can offer to food industry customers, including the bakery, produce, deli and confectionery segments.
Panoramic’s Janesville manufacturing facility and headquarters are located at the Arrow Park industrial complex, 1500 N. Parker Drive.
In statements, officials from the two companies said the acquisition will help both companies grow their business and speed up their capabilities to bring packaging to broader markets.
Details of the acquisition were not made public, and Panoramic officials did not immediately respond to a Gazette inquiry on how the acquisition will affect operations in Janesville.
Anchor Packaging, which is based in the U.S., is considered one of the largest plastic thermoforming companies in North America. Its best-known products include Crisp Food Technologies containers, which are designed to keep fried foods heated and crisp for home delivery, and Safe Pinch tamper-evident containers.
Both products are examples of food packaging used to transport restaurant takeout and supermarket ready-to-heat foods, sectors that have seen recent growth during the COVID-19 pandemic.
Panoramic’s own thermoform packaging products serve bakeries, delis, and confectionery and supermarket produce markets across the U.S. and in Canada.