Subsequent Event

2 Months Ended

Feb. 27, 2012

Subsequent Event [Abstract]

Subsequent Events [Text Block]

Subsequent Event (unaudited)

On February 24, 2012, the Company acquired 70% of the membership interests of Arminak & Associates, LLC ("Arminak") for the purchase price of approximately $64 million, of which approximately $59 million was paid in cash at closing. The purchase price remains subject to the finalization of a net working capital adjustment, if any, which is expected to be completed by the end of the third quarter of 2012. The purchase agreement provides the Company an option to purchase, and Arminak's current owners an option to sell, the remaining 30% non-controlling interest at specified dates in the future based on a multiple of future earnings, as defined. Arminak is in the business of designing, manufacturing and supplying foamers, lotion pumps, fine mist sprayers and other packaging solutions for the cosmetic, personal care and household product markets, and had approximately $60 million in revenue in the twelve months ended December 31, 2011. Arminak will be included in the Company's Packaging reportable segment.