Jabil Circuit Inc., a contract manufacturer that builds products for companies in health care, aerospace and other fields, agreed to acquire plastics maker Nypro Inc. for about $665 million.
The total purchase price will be subject to adjustments, St. Petersburg, Florida-based Jabil said today in a statement. The deal is expected to be completed in the fiscal third quarter, which ends in May.
Nypro, an almost six-decade-old business based in Clinton, Massachusetts, makes precision plastic supplies for the health-care, packaging and consumer-electronics industry. The company has more than $1 billion in annual revenue, 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.
Closely held Nypro has about 12,000 employees, who handle everything from product design to injection molding to surface decoration.
Jabil shares dropped less than 1 percent to $19.24 at the close in New York. The shares declined 1.9 percent in 2012.