US-based TriMas Corporation, the parent company of Rieke Packaging Systems, has acquired Indian dispensing solutions provider Lion Holdings. The transaction closed July 25, 2014, at which time Lion Holdings became part of the company's packaging segment. TriMas is also the second packaging firm to announce an acquisition in India, with Finnish packaging firm Huhtamaki acquiring Indian processor Positive Packaging in recent weeks. TriMas is also on route to expand its packaging footprint in Asia with its recent acquisition.

"We are pleased to add Lion Holdings to our portfolio of Packaging companies," said Dave Wathen, President/CEO of Trimas Corporation. "This acquisition complements our growth strategies to follow our packaging customers into high growth regions of the world."

Lion Holdings, headquartered in Greater Noida, India, specialises in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately US$10 million in revenue for the 12 months ended June 30, 2014.

"This acquisition clearly broadens our Asian market coverage and extends our geographic reach, while also providing significant customer and product synergies," said Lynn Brooks, President of Rieke Packaging Systems. "Lion Holdings will also provide us additional capacity to support our ongoing growth initiatives in Asia, while continuing to create a responsive, global supply chain."

Headquartered in Bloomfield Hills, Michigan, TriMas Corporation provides engineered and applied products for growing markets worldwide. TriMas is organised into six reportable segments: Packaging, Energy, Aerospace and Defense, Engineered Components, Cequent APEA and Cequent Americas. It has approximately 6,000 employees at more than 60 facilities in 17 countries.