Private Equity-Backed Packaging Acquisitions

PaperTech, a Findlay, Ohio-based pressed paperboard manufacturer and portfolio company of May River Capital, has completed the acquisition of Bake-Best Trays, a Redmond, Oregon-based maker of ovenable pressed paperboard trays. The add-on expands PaperTech’s tray product lineup and adds susceptor-enabled cooking-performance technologies to broaden its sustainable packaging offering for food processors, distributors and foodservice operators.

PPC Flex, a GTCR‑sponsored North American flexible packaging platform, has acquired the United States operations of SÜDPACK, including a manufacturing facility in Oak Creek, Wisconsin. The deal expands PPC Flex’s flexographic printing, conversion and cold‑seal capabilities and increases capacity to serve meat & cheese, snack, confectionary and healthcare packaged‑goods customers.

Platinum Equity has made a significant growth investment in Norton Packaging, a Hayward, California–based maker of rigid plastic pails and other packaging; financial terms were not disclosed. CEO Greg Norton and the Norton family retained a significant ownership stake and Greg Norton will continue to lead the business; Platinum said the capital will support product innovation, potential footprint expansion and pursue add-on acquisitions.

SupplyOne, a national value‑added packaging distributor, has acquired Wertheimer Box, a long-established corrugated packaging provider based in McCook, Illinois. The deal expands SupplyOne’s Midwest/Chicago footprint and strengthens its custom corrugated and e-commerce packaging capabilities.

JohnsByrne, a GHK Capital Partners–backed premium folding carton and specialty packaging platform, has acquired Municipal Packaging, a Los Angeles–based custom packaging provider. The acquisition adds two facilities and 75 employees, expanding JohnsByrne’s West Coast footprint and strengthening its capabilities in the health & beauty and premium specialty packaging markets.

Inovar Packaging Group, a Dallas-based label and packaging platform, has acquired Enterprise Marking Products (EMP), a flexographic label manufacturer headquartered in Fishers, Indiana. The add-on expands Inovar’s Midwest footprint and bolsters its capabilities in durable and industrial labeling applications for customers across industrial, food & beverage, and consumer durable markets.

TricorBraun has acquired Craft Beverage Warehouse, a Milwaukee-based digital printing specialist for canned beverage brands. The purchase expands TricorBraun’s North American beverage packaging and digital printing capabilities and will be integrated into CanSource, with Craft Beverage Warehouse operating independently until early 2026; financial terms were not disclosed.

ProAmpac has acquired the bag converting operations of International Paper, adding multiple U.S. manufacturing sites in California, Oregon, and Texas. The deal expands ProAmpac's converting capabilities and strengthens its production capacity and geographic footprint on the U.S. West Coast; terms were not disclosed.

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.

Handgards, a portfolio company of Wynnchurch Capital, acquired Albany Packaging USA, a Deerfield Beach-based distributor of paper-based foodservice packaging. The deal expands Handgards' paper-based packaging capabilities and brings Albany's folding carton product line and customer relationships into the Handgards platform.

ArchStar Capital, a lower middle market private equity firm, has completed an investment in Deployable Systems, Inc. (DSI), joining it with ArchStar's earlier investment in Packaging Strategies Incorporated (PSI) to form a new packaging holding company. DSI and PSI design and manufacture rugged rotationally- and injection-molded protective cases serving aerospace, defense, telecommunications, medical devices and related markets; terms were not disclosed.

The SC Pack Group, backed by private equity investor MML Capital, has acquired Frapak Packaging — a longstanding partner and European supplier of glass and sustainable plastic packaging. The deal expands SC Pack’s European footprint and product portfolio, creating a combined group with ~€350m revenue and roughly 500 packaging professionals across more than 15 countries.

Tower Arch Capital has recapitalized Documotion Research, Inc. (DRI), the Columbia, Tennessee-based manufacturer of StickyPOS linerless labels, partnering with the Van Boom family while Joel Van Boom remains CEO. The investment will support expanded production, product development and entry into new end markets (including healthcare and logistics); terms were not disclosed.

SupplyOne, a North American value-added packaging distributor, has acquired Vital Pack, a Signal Hill, California-based packaging distributor with in-house label printing capabilities. The add-on expands SupplyOne's presence in the Western United States and strengthens its flexible packaging and custom label production capabilities.

Ampersand Capital Partners has acquired CurTec Group B.V., a Netherlands-based manufacturer of high-performance plastic packaging for pharmaceutical and specialty chemical applications, from Bencis Capital Partners in partnership with CurTec management. The deal positions Ampersand to scale CurTec's U.S. footprint, accelerate product innovation, and expand capacity and commercial capabilities to serve pharma and specialty chemicals customers globally.

Atar Capital affiliate WinCup has acquired Conver Pack Inc., a Medley, Florida-based manufacturer of hot and cold paper cups and accessories. The add-on acquisition expands WinCup's sustainable and traditional paper cup manufacturing capabilities—adding SFI-certified paper cups and strengthening its phade PHA-based compostable product line.

Minneapolis-based private equity firm ShoreView has acquired M&Q (M&Q Engineered Materials / M&Q Packaging) from Heartwood Partners, marking ShoreView’s eleventh platform investment from its latest fund. M&Q is a U.S.-based manufacturer of high-temperature resistant thermoplastic nylon, polyester, and polyamide flexible packaging serving protein, foodservice and specialty industrial end markets; ShoreView plans to support growth and pursue add-on acquisitions to expand capabilities and end-market penetration.

FirmaPak, a PE-backed blow-molded packaging platform, has acquired Lighthouse Packaging, a Corona, California-based blow molder and decorator. The deal expands FirmaPak’s West Coast manufacturing footprint and adds in-house screen printing/decoration capabilities while retaining Lighthouse’s employees and leadership.

Prime Label Group, a Central and Eastern European label manufacturing platform backed by Innova Capital, has acquired Arti-Bau, a Polish digital label printing company based in Lower Silesia. The add-on strengthens Prime Label's digital printing capabilities (DigiPrime), expands its geographic reach into DACH and Scandinavian markets, and enhances the Group’s premium short-run label offering.

Novvia Group, a Kelso & Company–backed packaging platform, has acquired Garrett Hewitt International (GHI), a Fishkill, New York–based supplier of plastic and glass containers for the beauty and fragrance markets. The add-on expands Novvia's consumer packaging distribution capabilities and complements prior 2025 consumer-focused transactions including Saxco and MegaChem; financial terms were not disclosed.

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.

FCA, LLC (FCA Packaging), a Wynnchurch Capital portfolio company, has acquired Viking Packing Specialist, a Tulsa-based manufacturer and distributor of custom wood crates, metal containers, corrugated and dangerous-goods packaging. The add-on expands FCA's dangerous-goods packaging capabilities and strengthens its presence in the Tulsa, Austin and Dallas markets.

Novolex has completed its combination with Pactiv Evergreen Inc. in a transaction valued at approximately $6.7 billion (including net debt), with Pactiv Evergreen shareholders receiving $18.00 per share and Pactiv Evergreen delisted from Nasdaq. The combined company will operate under the Novolex name, expanding manufacturing footprint, product breadth and R&D capabilities across food, beverage and specialty packaging markets.

TricorBraun has completed the acquisition of German-based Euroglas and Austrian-based Glaspack, two family-run distributors of rigid packaging solutions, to expand its packaging footprint in the DACH region. Both companies (founded in 1992) supply stock and custom glass packaging to food, beverage, wine, beer and spirits customers; financial terms were not disclosed.

Precision Concepts International LLC, a North Carolina–based rigid packaging manufacturer, has acquired Meredith-Springfield Associates, Inc., a Ludlow, Massachusetts blow-molding specialist that designs and produces PET and HDPE bottles and containers. The deal expands Precision Concepts' Northeast footprint and blow-molding capabilities while keeping Meredith's leadership team in place.

Crestview Partners has completed the acquisition of Smyth Companies, a leading provider of pressure sensitive labels, shrink sleeves, in-mold labels and flexible packaging, from Novacap. Crestview is investing alongside members of Smyth's founding family and the company's management team and plans to allocate additional equity to support organic investments and M&A as Smyth pursues tuck-in and transformational acquisitions.

TricorBraun has completed the acquisition of Veritiv Containers (formerly All American Containers), a distributor of rigid packaging solutions. The deal — originally announced December 9, 2024 — adds seven locations and more than 500,000 square feet of capacity, expanding TricorBraun's North American footprint; financial terms were not disclosed.

Trimco Group, backed by Brookfield Private Equity, has acquired Nexgen Packaging, a US-based provider of apparel brand identification and packaging solutions. The add-on acquisition expands Trimco’s North American footprint, integrates Nexgen’s sales and manufacturing network, and extends Trimco’s ProductDNA platform and sustainability offerings to more US brands.

Brook + Whittle has acquired Stouse, a Kansas-based manufacturer and supplier of decals, labels and promotional printed items, and will bring Stouse into its Sprink division alongside Discount Labels. Stouse will continue to operate as an individual company while its production facility is integrated into Sprink's manufacturing network to improve speed, capacity and reliability and expand product offerings.

Resource Label Group (a portfolio company of Ares Management Corporation) has acquired the label business of Screenprint/Dow from founder/owner Walter Dow. The deal brings Screenprint/Dow’s label capabilities into RLG’s coast-to-coast platform to preserve the business legacy and expand capabilities and capacity for label customers.

Granite Creek Capital Partners provided growth capital to support a management-led buyout of Seedbox Solution, with co-investments from Everside Capital Partners and Hidden River Strategic Capital. The financing positions Seedbox to expand its seed-box wash/repair and rental services, accelerate 'smart box' technology deployment, and the firm named Peter Lehman and Jim Zimmer to the company's board.

Digital Color Concepts (DCC) has acquired TigerPress, a folding carton and commercial print manufacturer based in East Longmeadow, Massachusetts. The add-on expands DCC's manufacturing capacity and Northeast footprint following a growth investment from Sherburne Partners; the deal closed November 20, 2024. Terms were not disclosed.

Coregistics, a portfolio company of Red Arts Capital, has acquired Belvika Trade & Packaging Ltd., a Mississauga-based contract packaging and supply chain services provider. The transaction, sold by Fulcrum Capital Partners, expands Coregistics' scale and capabilities in primary and secondary packaging across North America.

Aterian Investment Partners (through an affiliate) has acquired Outlook Group, LLC, a Neenah, Wisconsin-based provider of pressure-sensitive labels and turnkey packaging solutions, from Heartwood Partners II, LP and affiliated entities. Outlook operates two Wisconsin locations with approximately 260 employees and serves food & beverage, consumer staples and healthcare customers; Aterian plans to support organic growth and M&A to expand the business.

STOK, a portfolio company of A&M Capital Europe (AMCE), has entered into a binding agreement to acquire BEWI's trading business ("BEWI Food"), a leading distributor of food packaging in Norway and Iceland. The deal is STOK's first add-on since AMCE's April 2024 investment and is intended to create a leading packaging distributor across Denmark, Norway, Iceland and Greenland, with combined pro forma sales of ~€190m in 2024.

Foundation Investment Partners (FIP) has completed the acquisition of American Spool & Packaging, Inc. (Amspak), a Hartsville, South Carolina-based specialty paper packaging manufacturer. The Ridgeway family is exiting the business while FIP will keep operations in place with industry veteran David Partin serving as CEO to support growth and reinvestment in the company.

SupplyOne, a portfolio company of Wellspring Capital Management, has acquired Gulf Packaging, Inc., a custom corrugated box and display converter with production facilities in Bay Minette and Tallassee, Alabama. The deal expands SupplyOne’s footprint in the Southeastern U.S. and is the 42nd addition to the SupplyOne portfolio, strengthening its ability to serve customers across Alabama, Florida, Georgia, Tennessee, Mississippi and Louisiana.

ACR (AmerCareRoyal), a portfolio company of HCI Equity Partners, has acquired Mat-Pac, Inc., a supplier of paper, plastic, aluminum and sustainable packaging solutions for the North American foodservice and janitorial/sanitation markets. The add-on strengthens ACR's product portfolio, expands its reach across foodservice and JanSan end markets, and retains the Mat-Pac leadership (the Jimenez family) in an ongoing role.

Bluegem Capital Partners and Arev Partners have acquired co‑majority stakes in Pinard Group from IK VIII Fund, with the Pinard management team and founding family retaining and reinvesting alongside the new owners. The investors plan to capitalise on Pinard's technical know‑how and IP to expand its high‑end, sustainable plastic packaging offerings for prestige Beauty & Personal Care and Pharmaceutical customers and to pursue an accelerated buy‑and‑build growth strategy.

Novvia Group, a PE-backed global rigid container and life sciences packaging distributor, has acquired Liquid Bottles LLC, a Florida-based supplier of plastic and glass containers and other rigid packaging products. The deal—terms not disclosed—adds a 40,000 sq ft Palmetto, Florida warehouse and management team to Novvia, expanding its product breadth and presence in the Southeastern U.S.; Novvia is backed by private equity firm Kelso & Company.

Mill Rock Packaging Inc. (a portfolio company of Mill Rock Capital) acquired the packaging and laminating assets located in Woodland, California from Everett Graphics and entered a long-term supply agreement with Everett. The acquisition expands Mill Rock Packaging’s West Coast capacity and large-format printing and laminating capabilities while supporting Everett’s sustainable tray business focused on single-use plastic replacement. Terms were not disclosed.

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.

Onex Partners (part of Onex Corporation) has agreed to make a majority investment in Fischbach KG, the German-headquartered maker of plastic cartridge packaging and related filling equipment. The owner-management group led by Thomas Langensiepen and Achim Helmenstein will remain involved; financial terms were not disclosed and the deal is expected to close subject to customary conditions.

Benelux private equity firm Gilde Equity Management will become majority shareholder of the newly merged conTeyor–KTP group after conTeyor Group (Belgium) and Germany-based KTP Kunststoff Palettentechnik agreed to merge. The combination creates a leading reusable packaging and storage solutions provider (annual sales ~€200m), with KTP shareholders VR Equitypartner and Wagner Holding retaining a significant minority stake.

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.

ProMach has acquired MBF, a Verona, Italy-based manufacturer of rinsing, filling, and closing machines for the wine and distilled spirits industries. The acquisition expands ProMach's filling and closing capabilities and broadens its global reach in the spirits and wine markets; MBF’s leadership team will remain in place and the company’s ~200 employees will join ProMach’s Primary Packaging business line.

Mill City Capital completed a recapitalization of Diversified Packaging Holdings, LLC, a Blaine, Minnesota-based provider of pre-press products and flexographic plates. Barings provided second-lien debt and an equity co-investment to support the transaction and fund Diversified Packaging's growth initiatives.

Hinton Lumber Products, a Tuscaloosa-based wooden pallet manufacturer, received a minority growth investment led by Trivest Partners (via Trivest Growth Investment Fund II) with co-investment from Palmares Capital Partners. The capital will support Hinton’s organic growth initiatives and future M&A as the company expands its automated pallet manufacturing footprint in the Southern United States.

Spell Family Office, via Spell Capital Partners, has acquired All Star Corrugated, a Fort Worth, Texas-based corrugated packaging manufacturer. The buyer plans to invest in new equipment and expand the company's manufacturing footprint to support customer demand growth in the Dallas/Fort Worth market.

SupplyOne, a portfolio company of Wellspring Capital Management, has acquired Columbia Corrugated Box Co., Inc., a family-owned corrugated and protective packaging manufacturer operating in Oregon, Washington and Northern California. The transaction — advised on the sell-side by Footprint Capital — expands SupplyOne's West Coast production and distribution footprint and is the 41st add-on to the SupplyOne platform.