Jabil Circuit Inc. (JBL), a contract manufacturer best known for its work in the electronics field, is making a major move in plastics and the medical field with the acquisition of Nypro Inc. for $665 million.
Jabil (St. Petersburg, FL) announced the deal this morning. It is expected to be completed by the end of May. Revenues at Nypro, whose growth mushroomed under the leadership of Gordon Lankton, exceed $1 billion annually, Jabil said.
"This will be a welcome complement to Jabil's engineering and supply chain solutions for health-care hardware and advances our ambition to become a leading provider to the global health-care marketplace," Courtney Ryan, senior vice president of global business units at Jabil, said in the statement.