Packaging solutions company buys Florida firm

Quality Packing Specialists International LLC, a Burlington-based packaging supply chain solutions company, has acquired a Florida pharmaceutical packaging firm, it announced Tuesday.Quality Packaging Specialists International LLC, a Burlington-based packaging supply chain solutions company, has acquired a Florida pharmaceutical packaging firm, it announced Tuesday.

QPSI said in a news release that it had utilized an equity exchange transaction to purchase 100 percent ownership of International Labs LLC, based in St. Petersburg.

“As an industry leader in contract packaging and supply chain management, this acquisition will build out QPSI’s product and service offerings, technical capabilities and complement our commitment to serving customers with expansive, integrated network solutions focused on cost savings, accelerated speed to market and product innovations,” Maurice Phelan, vice president of pharmaceutical operations, said in a prepared statement.

“This transaction will deliver significant and immediate value to our customers by offering increased primary packaging capabilities and direct-to-retail distribution. This allows us to continue providing our customers a dynamic approach to a complex and constantly evolving marketplace.”

Financial terms of the deal were not disclosed.

INL delivers adherence packaging solutions for pharmaceutical products to national retailers, QPSI said. QPSI serves Fortune 500 companies in the pharmaceutical, health, beauty and consumer goods industries.