Packaging Acquisitions in Georgia

Owner Resource Group (ORG), an Austin-based private investment firm, has completed a partnership recapitalization with Bear Paper Tube, LLC, a specialty manufacturer of industrial paper tubes and cores headquartered in Dalton, Georgia. ORG will partner with co-founders Michael Wise and Brian Clark and the existing management team to support geographic and end-market expansion and further investment in manufacturing capabilities, while the co-founders retain significant ownership and continue to lead the business.

Ball Corporation has sold its Aluminum Cup business into a newly formed joint venture, Oasis Venture Holdings, LLC, with Ayna.AI taking the majority stake (51%) and Ball retaining a 49% minority interest. The JV will include the Rome, Georgia manufacturing plant and teams, with Ayna providing operational expertise to scale the Aluminum Cup category and expand its customer base.

M2S Group, a Wynnchurch Capital portfolio company, has acquired the label solutions business (Iconex Labels) from Iconex, an Atlas Holdings portfolio company. The add-on expands M2S Group's portfolio of high-performance variable print and eco-friendly label solutions and brings Iconex Labels' customers and coworkers into the M2S platform; terms were not disclosed.

Brook + Whittle, a Guilford, Connecticut-based packaging manufacturer, has acquired PouchIt, a flexible packaging manufacturer headquartered in Atlanta, Georgia. The deal expands Brook + Whittle's flexible packaging and printing/converting capabilities and strengthens its footprint in the Southeastern United States.

An affiliate of private equity firm Clayton, Dubilier & Rice (CD&R) has completed the acquisition of Veritiv Corporation for $170.00 per share, valuing the company at approximately $2.6 billion. Veritiv, a leading North American distributor of packaging, JanSan/hygiene and print products headquartered in Atlanta, will become a privately held company under CD&R to pursue accelerated organic and inorganic growth and operational improvements.

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.

Novvia Group, a Kelso & Company–backed packaging platform, has acquired Southern Container, LLC, a distributor of plastic, metal, fiber, and glass rigid packaging products headquartered in Dalton, Georgia. Southern Container's existing management will remain in place as the company becomes part of Novvia's national distribution platform to strengthen its Southeast presence and service capabilities.

C-P Flexible Packaging, a portfolio company of First Atlantic Capital, has acquired Sycamore Sales, Inc. d.b.a. Preferred Packaging, a Norcross, Georgia-based manufacturer of multilayer flexible films, thermoformed containers and tray-sealing equipment. The add-on expands C-P's capabilities in refrigerated and frozen meal packaging, broadens its geographic footprint in the U.S. Southeast, and adds new manufacturing technologies; terms were not disclosed.

Fortis Solutions Group LLC, a portfolio company of Main Post Partners, has acquired Quality Tape and Label Co., Inc., a Marietta, Georgia-based provider of digital shrink sleeves, flexible packaging and pressure-sensitive labels. Rob Daniels will remain in a leadership role at QTL as Fortis expands its digital printing and packaging capabilities across its platform.

SupplyOne, a portfolio company of Wellspring Capital Management, has acquired Wilheit Packaging, a privately held distributor of shipping, packaging and maintenance products headquartered in Gainesville, Georgia. The deal expands SupplyOne's regional footprint across the Southeast and adds distribution capabilities in corrugated, poly films and end-of-line packaging to support food processors and industrial manufacturers.

Cypress Multigraphics (with Cypress Partners) has acquired Stratecom Graphics of Athens, Georgia from Menasha Corporation. The acquisition adds a pressure-sensitive label and decal converter with flexo, UV rotary letterpress, hot-stamping and screen-printing capabilities, and is intended to strengthen Cypress Multigraphics’ capabilities and end-market presence in HVAC, household appliances and outdoor power equipment. This is the third pressure-sensitive label company acquired by Cypress Multigraphics in the past five years, consistent with a platform consolidation strategy.

Kelso Fund X (Kelso & Company) completed a majority investment in Inmark, a global distributor and designer of rigid container and life sciences packaging, on December 23, 2020. Inmark management and employees retained significant ownership and the investment is positioned to support the company's packaging and regulatory-compliance training capabilities across North America, Europe and Asia.

Atar Capital has completed the acquisition of WinCup from funds managed by BlackRock, Inc. Headquartered in Georgia, WinCup operates eight manufacturing facilities and employs nearly 1,000 people producing traditional and biodegradable foodservice packaging (including its Phade and Vio brands). Atar appointed a new leadership team and said the acquisition expands its platform into sustainable foodservice packaging to support growth and capability expansion.

Greif, Inc. has completed the acquisition of Caraustar Industries from H.I.G. Capital for $1.8 billion. Caraustar, headquartered in Austell, Georgia, is a leading producer of uncoated and coated recycled paperboard and recovered-fiber recycling services; the acquisition expands Greif’s recycled paperboard, tubes & cores and industrial packaging capabilities across North America.