Berlin Packaging Acquires Continental Packaging Solutions
“This acquisition is another example of how Investcorp is committed to the long-term growth and success of its portfolio companies,” said David Tayeh, a Managing Director at Investcorp.
12/17/2010 --- Berlin Packaging, a leading full-service supplier of plastic, glass, and metal containers and closures, announced the acquisition of Chicago-based Continental Packaging Solutions in a transaction designed to expand the resources available to customers for fast and expert service and cost-effective rigid packaging.
The acquisition:
* Increases the number of Berlin Packaging sales and warehouse locations in North America to more than 70, putting more resources closer to customers in key geographic markets for enhanced customer service.
* Provides an expanded array of services to Continental’s customers, including custom packaging and graphic design, capital lending, and consulting services.
* Augments Berlin Packaging’s on-the-ground Asian sourcing capabilities with the addition of Continental’s full-time staff in mainland China.
* Gives the two companies’ joint suppliers easier access to customers and prospects by consolidating sales leads, new product news, and other communications under the Berlin Packaging umbrella.
The transaction marks Berlin Packaging’s second acquisition in ten months, following the March 2010 acquisition of Pittsburgh-based All-Pak, Inc.
“Our company and Continental Packaging Solutions value a similar full-service approach to assisting customers, work with many of the same suppliers, and have complementary geographic coverage,” said Andrew T. Berlin, Chairman and CEO of Berlin Packaging. “This is a strategic acquisition that extends our geographic reach, expands our network of packaging experts, and advances our mission of helping customers increase their net income by optimizing their packaging costs, operations efficiency, and shelf impact.”
Berlin Packaging, founded in 1898, is one of North America’s largest stocking suppliers of rigid packaging products. In 2011, Berlin Packaging expects to exceed $600 million in revenue. The company supplies billions of containers and closures to small and large customers nationwide, along with providing industry-leading design, warehousing, and other services designed to unlock profits for its customers. Berlin Packaging is majority-owned by Investcorp, an alternative investment management firm.
Continental Packaging Solutions was founded in 1936 as Continental Glass Company, initially supplying glass bottles to beverage companies including Pepsi Cola, 7-Up, Dr. Pepper, and Jim Beam. Today Continental offers a full complement of glass and plastic containers and closures, serves multiple industries, has branches from coast to coast as well as in mainland China, and offers value-added services ranging from component assembly and package decoration to warehousing and logistics management.
“Merging with Berlin Packaging makes sense given our similar business models and shared emphasis on personal service to help customers drive growth and profits,” said Mark Giesen, CEO of Continental Packaging Solutions. “It’s an ideal match that will ensure a seamless transition for all parties.”
The acquisition closed on December 14, 2010. All Continental sales and warehouse locations will be rebranded with the Berlin Packaging name.
“This acquisition is another example of how Investcorp is committed to the long-term growth and success of its portfolio companies,” said David Tayeh, a Managing Director at Investcorp. “It’s a clear sign of Berlin’s strength that the company has completed two acquisitions this year while continuing to experience double-digit organic growth.”
