NEWARK — An international manufacturer of flexible packages for hygiene, medical products and food has bought out the building in the Pencader Corporate Center that has been leased for close to a decade.
Zacros America Inc., a subsidiary of Japanese company Zacros, had recently bought the two-story office and warehouse on 220 Lake Drive from the Commonwealth Group for $25 million in late August, according to New Castle County property records. Zacros America had originally leased out 183,235 square-foot warehouses once the company moved out of Baltimore in 2017.
Zacros America Inc. representatives were not immediately available for comment for the Delaware Business Times.
Zacros, also known as Fujimori Kogyo Co. Ltd., is a Japanese company that specializes in the development of flexible films and packaging. Its American subsidiary, with its Newark and Las Vegas plants, focuses on packaging solutions for liquids up to 20 liters. Included in its product line are refill pouches – some with spots – that consist of multi-laminated layers integrated with nylon to be tear resistant.
The manufacturer also produces IV and liquid pharmaceutical bags and the Cubetainer, which is also used in the food and medical supply business. The Cubetainer can also be customized and deflated to reduce storage costs.
Zacros first came to Delaware in 2017 after the company acquired Baltimore-based competitor Hedwin Corp. for $22 million. At the time, Hedwin Corp. had been in Maryland for close to 70 years and employed nearly 300 people, according to the Baltimore Sun.
The deal also showed a 75% increased value in the site, as when 220 Lake Drive Associates LLC, the limited liability that traces back Commonwealth Group, first bought the property in October 2020 it was for $14.2 million.
