Jabil to buy Nypro for $665 million

ST. PETERSBURG — Jabil Circuit Inc. announced it will acquire Nypro Inc., maker of precision plastic products for the health care, packaging and consumer electronics industries, for $665 million in cash.

The acquisition will help St. Pete-based Jabil (symbol: JBL, recent price: $19.42) expand its manufacturing capabilities into the health care and consumer packaging markets, as well as “add depth” to its consumer electronics business, Timothy L. Main, Jabil chairman and CEO, says in a statement. Jabil specializes in electronics manufacturing.

“The combination with Nypro would also open an exciting new market in packaging for customers in the food and beverage, household and personal care industries,” Jabil President Bill Peters says in the statement.