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Tolas sold to Michigan firm
A Michigan company bought Tolas Healthcare Packaging, which has a plant in Feasterville with 150 employees.
The buyer, Oliver Medical, of Grand Rapids, Mich., has about $50 million in annual sales, and Tolas, which also has a plant in Hamilton, Ohio, has about $40 million in annual sales, said Oliver's president and chief executive officer, Jerry Bennish.
The seller was Oracle Packaging of Winston-Salem, N.C.
The price was not disclosed.
Altogether, Tolas employs 170, Bennish said. The two companies' products are typically used to encapsulate medical devices that then get sterilized, such as orthopedic implants, catheters and syringes, Bennish said. The packaging is made of DuPont's medical-grade Tyvek.
The deal was announced Friday.
