Packaging Acquisitions in 2022

Greif, Inc. completed the acquisition of Lee Container Corporation for $300 million in an all-cash transaction funded through Greif's existing credit facility. The acquisition expands Greif's jerrycan and small-plastic container footprint in North America, is expected to be margin-accretive, and to generate approximately $6 million in synergies within the first two years.

B2B Industrial Packaging, a GenNx360 Capital Partners portfolio company, has acquired Oak Paper Products Company, Inc., a Los Angeles-based distributor of corrugated paper products and related specialty divisions. Oak Paper’s existing ownership and management will remain active investors and operators while the business gains access to B2B Industrial Packaging’s nationwide distribution network and resources as a platform add-on.

The Lachemont Group, a holding company with assets in New Jersey and Los Angeles, has acquired Coastal Packaging, a custom flexible-packaging manufacturer that produces roll stock, open-mouth bags, custom-fit container liners and pallet covers. The acquisition gives Lachemont vertical integration with its existing plastic-processing property and expands the group's geographic and end-market reach while enabling the Coastal Packaging brand to continue operating under new ownership.

Multi-Color Corporation (MCC) acquired LUX Global Label, a manufacturer of pressure-sensitive labels, shrink sleeves and security labels headquartered in Lafayette Hill, Pennsylvania. The acquisition, which closed December 9, 2022, adds LUX’s ~200 employees and production sites in Pennsylvania and Puerto Rico to MCC’s Home and Personal Care business to deepen capabilities in personal care and pharmaceutical end-markets.

Novvia Group, a Kelso & Company-backed national packaging platform, has acquired Rahway Steel Drum Company, a Cranbury, New Jersey-based distributor of drums, pails, IBCs and other rigid packaging solutions. The deal — financial terms not disclosed — expands Novvia's geographic footprint into the Northeast and adds distribution, reconditioning and dedicated logistics capabilities to its national platform.

UFP Packaging, an affiliate of UFP Industries, acquired Titan Corrugated, Inc. and its affiliate All Boxed Up, LLC, adding corrugated conversion and distribution capabilities to UFP's industrial packaging portfolio. The combined Titan companies had trailing 12-month sales of approximately $46.5 million through October 2022; Titan's leadership, including founder Jon Reneau, will remain with the business.

Salt Creek Capital completed a recapitalization of Pacific Paper, partnering with CEO Bill Donahue to provide liquidity to investors and support the company's next growth phase. Pacific Paper, headquartered in Rancho Cucamonga, California, is a custom paperboard sheet converter serving packaging manufacturers and commercial printers across the U.S.; the company employs over eighty people and operates facilities in Southern California and Lithia Springs, Georgia.

ID Images, a portfolio company of Sole Source Capital, has acquired Canadian label manufacturers Summit Labels (Vancouver area, British Columbia) and Precision Label (Calgary, Alberta) as add-on acquisitions. The transactions expand ID Images' footprint in Canada and add digital and flexographic prime-label capabilities to the IDI platform; terms were not disclosed.

AWT Labels & Packaging has acquired Ottawa-based Label Innovation Inc., a custom label manufacturer and converter of specialty components, tapes and labels. Label Innovation will operate as a standalone business with its existing management team retained, and the acquisition is intended to expand AWT’s capabilities and customer reach in industrial, medical and security end markets.

ChromaScape, a specialty colorants and additives supplier backed by Heartwood Partners, has acquired CEL Chemical, a Piedmont, South Carolina-based manufacturer of adhesives, additives and modifiers for the corrugated paperboard packaging industry. The acquisition expands ChromaScape's packaging chemical product line and follows the retirement of CEL Chemical founder Jim Messenger; Heartwood Partners supported the transaction as the sponsor of ChromaScape.

St. Louis-based Novvia Group, backed by private equity firm Kelso & Company, has acquired Innovative Container, a La Mirada, California distributor of plastic, metal, glass and corrugated rigid containers. The add-on expands Novvia's West Coast presence under its regional platform Rhino Container; financial terms were not disclosed.

All4Labels Global Packaging Group, a Triton Fund V portfolio company, has agreed to acquire Romprix Exim, a Romanian manufacturer of high-value self-adhesive labels and a leader in digital label printing in Romania. The deal will make Romprix a 100% subsidiary of All4Labels (subject to customary closing conditions) and aims to strengthen All4Labels' Eastern European footprint and production capacity; founder Cristian Dobrotă will remain CEO.

ID Images, a portfolio company of Sole Source Capital, has acquired Lebanon, Tennessee-based Hickman Label. The add-on expands IDI’s omnichannel presence and on-demand inkjet label capabilities through Hickman’s online ordering platform and customer base of over 2,000 active customers.

Carton Pack, a portfolio company of A&M Capital Europe (AMCE), has acquired Ondapack, an Italian producer of paper, carton board and corrugated packaging, from the founding Morgese family. The add-on expands Carton Pack’s sustainable fibre-based and food-packaging capabilities and broadens its end-market exposure in fruit & vegetable and other food/industrial segments.

Shrieve Chemical Company has acquired the assets of Independent Contract Packaging (ICP), a Conroe, Texas-based contract packaging, blending, warehousing and distribution provider. The acquisition (ICP to be rebranded Shrieve Performance Packaging) expands Shrieve's small-packaging and blending capabilities to better serve lubricant, personal care, institutional and petrochemical customers and streamline supply-chain operations.

Resource Label Group, a portfolio company of Ares Management, has acquired Scentisphere, a scent activation and marketing technology provider. The deal brings Scentisphere's scent sampling innovations and specialty inks/coatings into Resource Label's packaging and label capabilities as an add-on to the platform.

GenNx360 Capital Partners' portfolio company B2B Industrial Packaging has acquired Tri Pro Graphics and Packaging, a St. Louis-based distributor of packaging materials, equipment, and printing solutions. The deal is an add-on to B2B's platform, expanding its capabilities and geographic footprint in the Midwest.

Novvia Group, a Kelso-backed global rigid container and life sciences packaging distributor, has acquired Auberst Inc., a Brea, California-based distributor of plastic and metal rigid packaging solutions. The acquisition — which will be combined with Novvia subsidiary Rhino Container — strengthens Novvia's West Coast footprint; financial terms were not disclosed.

PPC Flexible Packaging LLC, a GTCR-backed flexible packaging platform headquartered in Buffalo Grove, Illinois, has acquired Plastic Packaging Technologies, LLC (PPT), a flexible packaging manufacturer based in Kansas City, Kansas. The acquisition adds PPT’s two manufacturing and distribution facilities and ~425 employees to PPC’s network, expanding capacity, capabilities and geographic footprint across North America.

Resource Label Group has acquired MedLit Solutions, a pharmaceutical packaging, labeling and printing provider with facilities in North Carolina and New Jersey. The deal is an add-on to Resource Label's platform (a portfolio company of Ares Management) and was a sale by CORE Industrial Partners, which built the MedLit platform through prior tuck-ins and investments.

IPACKCHEM Group acquired a majority stake in TPG Plastics LLC to bring its Advanced In‑Mold Fluorination (Advanced IMF) barrier packaging technology to North America and serve the crop protection market. The deal gives IPACKCHEM a manufacturing foothold in Murray, Kentucky and includes near‑term investments to expand capacity and support growth into additional life‑enhancing chemical segments.

Specialized Packaging Group (SPG), a portfolio company of Altamont Capital Partners, acquired San Diego-based Pacific Pulp Molding, Inc., a manufacturer of molded pulp and molded fiber packaging. The add-on expands SPG’s ProtecPac division capabilities and geographic reach, adding approximately 50 employees while Pacific Pulp’s leadership and workforce continue operating in San Diego and Tijuana, Mexico.

Resource Label Group, a Franklin, Tennessee-based pressure-sensitive label and packaging platform (and Ares Management portfolio company), has acquired Chicago-based Deco Flexible Packaging. The acquisition is an add-on to Resource Label’s growing platform and expands its presence in the Midwest while strengthening its flexible packaging and pressure-sensitive label capabilities.

Novvia Group, a Kelso & Company–backed rigid packaging platform, has acquired Rios Containers, a family-run distributor of plastic and metal bottles, cans, drums, lids and other rigid packaging headquartered in Santa Fe Springs, California. Rios will be combined with Novvia's West Coast operations (including Rhino Container) to expand Novvia's presence in the region; financial terms were not disclosed.

Imperial Dade has acquired Dees Paper Company, a Mobile, Alabama-based distributor of janitorial sanitation and foodservice packaging products. The transaction — Imperial Dade's 54th acquisition — was announced with financial terms undisclosed; Dees will continue under its existing leadership in partnership with Imperial Dade to expand scale in the Southeast.

MAX Solutions, a specialty packaging company founded by industry veterans, has acquired The Ellis Group, Canada’s largest family-owned folding carton company. The acquisition adds three manufacturing facilities in Ontario to MAX Solutions’ footprint and expands the company’s capabilities across healthcare, consumer and food packaging end markets.

Ontario Teachers' Pension Plan Board has acquired a co-control stake in GPA Global from EQT Private Equity and other minority shareholders; GPA founders Tom Wang and Adam Melton rolled equity and will continue to lead the company. GPA Global is a full-service premium packaging provider with manufacturing and offices across Asia, North America and Europe; the transaction is intended to support GPA's next stage of growth and global expansion (terms not disclosed).

The Occasions Group, a Taylor Corporation company, has agreed to acquire the assets of Accu Copy of Greenville, Inc., which operates under the AccuLink and AccuFlex brands. The deal expands Taylor's commercial print, direct mail, e-commerce fulfillment and flexible packaging capabilities — adding sustainable, bio-based flexible packaging and dye-sublimation personalization capacity in Greenville, North Carolina.

TemperPack Technologies, Inc. has completed the acquisition of KTM Industries, Inc., the maker of Green Cell Foam, a starch-based insulation material for perishable food and life science shipments. The deal expands TemperPack’s sustainable cold-chain product offering and market coverage; the combined company will operate across four U.S. locations and employ over 700 people.

Fortis Solutions Group LLC, a portfolio company of funds managed by Harvest Partners, acquired Digital Dogma Corp., a California-based digital manufacturer of pressure sensitive labels, shrink sleeves and flexible packaging. The acquisition expands Fortis's digital printing capabilities and extends its coast-to-coast manufacturing footprint into California; financial terms were not disclosed.

MML Capital Partners, alongside co-investor Metric Capital Partners, has invested in Global Packaging Solutions (GPS), a Bordeaux-based specialist in returnable metal crates and circular logistics. The investment will be used to expand GPS's crate fleet and support its global expansion while founders Benoit Arnaud and CEO Jean-Francois Baus remain invested in the business.

O.Berk West LLC, an affiliate of O.Berk Company, LLC, has acquired the business and Southern California office/warehouse of E.D. Luce Packaging of Cerritos, California, effective August 16, 2022. The acquisition includes E.D. Luce's customers, supplier relationships, product offerings and its eCommerce store (essentialsupplies.com), expanding O.Berk's West Coast presence in pharmaceutical and personal care packaging markets.

Steven Label, a Goldner Hawn portfolio company, has completed the acquisition of Orange County Label (OCL), a Santa Ana, California-based supplier of high-quality labels and specialty die-cut and adhesive products. The add-on strengthens Steven Label's printing and finishing capabilities and expands its serving of end markets including pharmaceutical & biomedical, health & beauty, electronics, durable goods and food & nutrition.

All4Labels Global Packaging Group, a Triton Fund V portfolio company, has acquired Carlucci, an Italian producer of pressure-sensitive labels and packaging solutions serving the pharmaceutical and personal care markets. The deal expands All4Labels' capabilities and presence in the pharmaceutical packaging market in Italy and across Europe; terms were not disclosed.

Constantia Flexibles has agreed to acquire 100% of FFP Packaging Solutions, a Northampton-based flexible packaging manufacturer focused on sustainable laminates, flow wraps and pouches. The acquisition expands Constantia Flexibles’ UK presence and strengthens its sustainable flexible packaging capabilities while FFP’s existing management will remain to support integration.

Edgewater Growth Capital Partners IV has acquired Flexible Packaging Specialties, Inc. (FPS), a Loveland, Ohio-based flexible packaging manufacturer, as an add-on to its Flex Pack platform. The acquisition expands Flex Pack’s flexible packaging capabilities and continues the platform’s roll-up strategy under leader Scott Myers.

All4Labels Global Packaging Group, a Triton Fund V portfolio company, has acquired Spanish label converter Relieves Egara. The deal makes Relieves Egara a subsidiary of All4Labels as part of the group's strategy to expand its footprint in the Iberian region; terms were not disclosed.

Charter Next Generation (CNG) has acquired Polymer Film & Bag, Inc., the extrusion business of the Polymer Packaging family based in Massillon, Ohio, along with certain related assets. The deal brings PF&B's co-extrusion capabilities and SQF-certified food-film production into CNG's platform to expand capabilities and serve new vertical markets.

Imperial Dade, a leading North American distributor of foodservice packaging and janitorial supplies, has acquired Palm Paper Supply, a regional distributor serving the greater Tampa, Florida area. The acquisition (financial terms not disclosed) expands Imperial Dade's footprint and scale in Florida while preserving Palm Paper's local leadership and customer-facing team.

All4Labels Global Packaging Group, a Triton Fund V portfolio company, has acquired Gráficas Indetic, a Barcelona-based converter of decorative self-adhesive labels and shrink sleeves. The deal makes Indetic a subsidiary of All4Labels as part of the group's strategy to build a leading Iberian business unit and expand its packaging capabilities; terms were not disclosed.

Roundliner Holding, a portfolio company of AURELIUS Growth Investments, has acquired Südplast Group (Südplast GmbH and PCM International SE). Südplast, headquartered in Baiersbronn, Germany with a production facility in Zbraslav (Czech Republic) and ~40 employees, expands Roundliner's industrial packaging footprint and product offering across Germany and the Czech Republic.

Dazpak Flexible Packaging, an H.I.G. Capital portfolio company, has completed add-on acquisitions of Atlapac Corporation (Columbus, Ohio) and the Inno-lok division of Polymer Packaging (Massillon, Ohio). The deals expand Dazpak's flexible packaging footprint into the Midwest, broaden its product offering (including INNO-LOK reclosable pouches), and increase the combined company's customer reach across food & beverage, homecare and healthcare end markets.

Envoy Solutions, a Glenview, Illinois–based specialized distributor, has acquired York, South Carolina–based Sunbelt Packaging. The add-on strengthens Envoy's packaging footprint in the Southeast, bringing Sunbelt's flexible packaging inventory, automated equipment offerings and four distribution centers into Envoy's national platform; former majority owner SouthPointe Ventures was the selling party.

Bain Capital Private Equity has signed definitive documents with BC Partners to establish joint ownership of Fedrigoni, the global producer of self-adhesive labels and fibre-based packaging products. The transaction combines a reinvestment by Bain with new investment from BC Partners to support Fedrigoni's M&A-led growth and sustainability agenda; the Fedrigoni family and management will remain invested and the deal is expected to close by the end of 2022 subject to regulatory approvals.

Novvia Group, a Kelso & Company-backed national packaging distributor, has acquired Duval Container Company, a Jacksonville-based distributor of plastic, metal, fiber and glass packaging products. The acquisition (terms undisclosed) expands Novvia's presence in the U.S. Southeast and adds Duval's two warehouses, walk-up counter sales capability and customer base across chemical, agriculture and food & beverage markets.

Berlin Packaging L.L.C., a portfolio company of Oak Hill Capital Partners and the Canada Pension Plan Investment Board, has acquired Jansy (Jansy Packaging) from Eureka Equity Partners. The deal expands Berlin Packaging’s health & beauty packaging capabilities in North America; all Jansy employees and locations will be retained.

Austin-based private equity firm CenterGate Capital has acquired United Envelope, a Ridgefield, New Jersey-based manufacturer and printer of transactional and direct-mail envelopes. United Envelope's CEO Ken Bernstein will remain in place as CenterGate partners with management to support growth, expand capabilities, and continue serving the company's blue-chip customers across financial services, healthcare, government and nonprofit markets.

Mill Rock Packaging Partners LLC, a portfolio company of Mill Rock Capital, has acquired Impressions Incorporated, a specialty paperboard packaging and commercial printing business based in St. Paul, Minnesota. The acquisition expands Mill Rock Packaging's national footprint into the Midwest and adds Impressions' folding-carton, lithographic printing and value-added engineering capabilities to the combined platform; financial terms were not disclosed.

GenNx360 Capital Partners’ portfolio company, B2B Industrial Packaging, acquired Springfield Corrugated Box of Agawam, Massachusetts. The deal is an add-on to B2B’s platform to expand East Coast capacity, distribution and product selection for its national packaging network.

Flexpak, LLC, a Shorehill Capital portfolio company, completed the acquisition of ACE Packaging of AZ on July 1, 2022. ACE, a Phoenix-based value-added distributor of corrugated boxes, stretch film, foam and polybags, will continue operating with former owners Mark Lundberg and Kevin Aldridge in ongoing roles as Flexpak expands its geographic presence into Arizona.