Packaging Acquisitions in Ohio

MPE Partners announced minority/majority investments in, and the simultaneous merger of, Central Coated Products and Sun America to create a new food packaging platform serving meat, cheese, bakery and other food processors. Company founders and owner-operators Steve Porter and Russ Romocean partnered with MPE and management; Dave Furstoss was recruited as interim CEO and financing was provided by Churchill Asset Management and FS Investments.

Inovar Packaging Group, LLC has acquired The Kennedy Group, LLC, a label and packaging provider with facilities in Willoughby, Ohio and Levittown, Pennsylvania. The add-on expands Inovar’s production footprint and capabilities (pressure-sensitive, roll-fed and RFID labels) across the Midwest and Northeast while retaining The Kennedy Group’s leadership team.

Rapid Packaging, Inc. has acquired Lawgix International to strengthen its national supply chain and expand sustainable solutions for its FIBC and industrial bag division. The acquisition brings Lawgix’s Multi‑Trip Bulk Bag Program and expertise in reusable bulk bag solutions into Rapid Packaging’s operations to support customers in agriculture, food manufacturing, resin production and other industrial markets.

Greif Inc. acquired a 51% majority ownership interest in ColePak LLC in an all-cash transaction funded through Greif's existing credit facility. The deal adds ColePak’s paper partition product line to Greif’s paper converting portfolio, is immediately accretive to margins, and provides exposure to stable food & beverage end markets; Cole family owners Jason and Ryan Cole will remain involved.

Imperial Dade has acquired The Ohio & Michigan Paper Company (O&M), a family-owned distributor of janitorial, paper and packaging products based in Perrysburg, Ohio. The deal—Imperial Dade's 69th acquisition—adds density in the Midwest; financial terms were not disclosed and the seller is the Leininger family.

Brook + Whittle agreed to acquire LLT Labels, a Stow, Ohio-based maker of direct thermal, thermal transfer and industrial labels. The deal is an add-on to Brook + Whittle's label and flexible packaging platform and aims to expand its custom warehouse and shipping label offerings.

Oliver Inc. has acquired Tap Packaging + Design, a Cleveland-based manufacturer of custom folding cartons. The acquisition, which closed on January 18, 2023, expands Oliver’s product offerings and strengthens its position as a leading independent specialty packaging supplier while Tap Packaging will continue operating from its Cleveland facility.

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.

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.

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.

ACW Flex Pack, a portfolio company of Edgewater Growth Capital Partners IV, has acquired Bag Pack, Inc., a custom converter of polyethylene bags, mailers, pouches and specialty flexible packaging products. The deal is an add-on to Flex Pack’s platform to expand manufacturing capabilities and capabilities in flexible packaging as the platform pursues additional acquisitions.

Foam Holdings Inc., a portfolio company of Wynnchurch Capital, has acquired Fabricated Packaging Materials, Inc. (FPM), a Lancaster, Ohio-based manufacturer of block molded expanded polystyrene (EPS). The acquisition is an add-on to Foam Holdings' materials solutions platform intended to extend its footprint in core end-markets and enhance its EPS manufacturing and packaging capabilities.

Clayton, Dubilier & Rice (CD&R) agreed to acquire Multi-Color Corporation (MCC) from Platinum Equity and Fort Dearborn Company from Advent International and combine the two businesses into a single global label solutions platform. The combined company will serve consumer packaged goods customers across Food & Beverage, Home & Personal Care, Wine & Spirits and other specialty end markets, creating roughly $3 billion in annual revenue and expanded global scale.

Rohrer Corporation has acquired Coburn Carton Solutions, a printer and folding-carton converter based in Hayesville and Ashland, Ohio. The add-on expands Rohrer's paperboard packaging and printed folding carton capabilities and is being completed by Rohrer while it is a portfolio company of Wellspring Capital Management.

Imperial Dade, a leading distributor of foodservice packaging and janitorial supplies, has acquired Cincinnati-based Mailender, a nearly 90-year-old distributor of janitorial supplies and packaging. Financial terms were not disclosed; the deal represents Imperial Dade's 42nd acquisition and strengthens its Midwest presence and access to the Cincinnati market.

Benchmark Industrial, Inc., an Ohio-based distributor of packaging and warehouse supplies, has acquired Donby Packaging of Brooklyn Heights, Ohio. The acquisition expands Benchmark’s Ohio delivery footprint into the Cleveland area and increases purchasing power and supply-chain capabilities for both companies.

Wellspring Capital Management has closed the acquisition of Rohrer Corporation, a Wadsworth, Ohio–based retail packaging designer and manufacturer. Rohrer, founded in 1973 and a ShoreView portfolio company since 2009, will retain its CEO and management team and continue to operate from its Wadsworth headquarters and seven additional manufacturing facilities; financial terms were not disclosed. Wellspring said the acquisition extends its packaging sector strategy and positions Rohrer to pursue organic growth and further consolidation in the industry.

Green Shield Limited, LLC has acquired FiberCorr Mills, LLC and FiberCorr Sheets, LLC following a Chapter 11 Section 363 sale approved by the U.S. Bankruptcy Court for the Northern District of Ohio. FiberCorr, a Massillon, Ohio-based paper mill producing recycled roll stock and medium paperboard for the corrugated box industry, will expand Green Shield’s manufacturing footprint and recycled paperboard capabilities.

Pritzker Private Capital (PPC) completed a new investment in ProAmpac, with Singapore sovereign wealth fund GIC and existing and new co-investors investing alongside PPC and ProAmpac management to support the company's next phase of growth. The recapitalization will help ProAmpac pursue future acquisitions and geographic expansion; terms were not disclosed.

May River Capital, a Chicago-based private equity firm, has acquired PaperTech, a Findlay, Ohio manufacturer of sustainable, dual-ovenable paperboard trays and bowls serving the frozen food and foodservice markets. PaperTech has nearly 200 employees and produces over 500 million trays annually; founder Larry Epstein will retire (remaining a shareholder) while co-founder Al Fotheringham will remain as a shareholder and continue as Chief Development Officer.

PPC Flexible Packaging LLC, a Buffalo Grove, Illinois-based flexible packaging manufacturer, has acquired Custom Poly Bag, Inc., a family-owned flexible packaging converter based in Alliance, Ohio. The deal expands PPC's manufacturing footprint and capabilities in film extrusion, printing and bag operations, and is the latest add-on in PPC's multi-year acquisition strategy.

Southern Champion Tray (SCT), a Chattanooga-based paperboard packaging manufacturer, acquired substantially all assets of Honeymoon Paper Products, Inc. of Fairfield, Ohio effective June 29, 2020. The acquisition adds a Fairfield manufacturing facility, corrugated-circle/pad and take-out packaging capabilities, and expanded printing technology to SCT’s bakery and food-service packaging portfolio.

Brown Machine Group (BMG), a portfolio company of Industrial Growth Partners (IGP), acquired the robotics capabilities and related assets of automation equipment supplier aXatronics on May 30, 2020. The asset acquisition brings robotic automation, mechatronics and end-of-arm tooling expertise into BMG’s thermoforming and packaging equipment platform to enable fully integrated turnkey packaging automation solutions.

Silgan Holdings Inc. acquired Cobra Plastics, Inc., an Ohio-based manufacturer of injection-molded plastic closures that focuses on the aerosol overcap market. The acquired business had approximately $30 million in sales and operates two manufacturing facilities in Macedonia, Ohio; the acquisition expands Silgan's closures and dispensing product offering.

An affiliate of Platinum Equity has completed the acquisition of Multi-Color Corporation, taking the Cincinnati-based label and packaging solutions provider private. The deal merges Multi-Color with a subsidiary of Platinum portfolio company WS Packaging to create a combined business with roughly $2.2 billion in annual revenue, 86 plants across 26 countries and over 10,000 employees.

HCI Equity Partners has acquired Express Packaging, a Newcomerstown, Ohio-based provider of outsourced contract packaging and contract manufacturing services for global consumer brands. Patriot Capital Group provided subordinated debt and an equity investment to support the transaction; Express operates three SQF Level 3 certified facilities in West Chicago, IL; Columbus, OH; and Newcomerstown, OH.