US electronic product solutions provider Jabil Circuit (St. Petersburg, Florida; www.jabil.com) has reached an agreement to acquire injection moulder Nypro (Clinton, Massachusetts / USA; www.nypro.com) in a deal worth a projected USD 665m. The transaction, which is subject to regulatory approval and is expected to be completed in Jabil’s fiscal third quarter, will most likely be funded from existing cash and credit facilities.

The complementary deal will extend Jabil’s manufacturing capabilities into both the healthcare and consumer packaging markets, both fields in which the US company plans to grow strategically as it aims to diversify its existing portfolio. The Florida-based company said the agreement positions it “as the only full-service healthcare manufacturer in consumer packaging and disposables providing simplified supply chain solutions and product innovations in converged products.”

“Nypro is a leader in precision plastic consumables and disposables for the healthcare market. This will be a welcome complement to Jabil’s engineering and supply chain solutions for healthcare hardware and advances our ambition to become a leading provider to the global healthcare marketplace,” said Courtney Ram, senior vice president of Jabil’s Global Business unit. Nypro’s 12,000 employees are spread across 20 sites in 10 different countries, and last generated sales of about USD 1 bn. Key markets served by the company include healthcare, packaging and consumer/electronics.