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news.Berlin Packaging has entered into an agreement to acquire All-Pak, a Pennsylvania-based packaging supplier, in a deal aimed at accelerating growth of both companies and quantifiably assisting customers in growing their net income.
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Andrew Berlin, chairman and CEO of Berlin Packaging, said: “This exciting transaction unites two highly complementary businesses and will enable us to continue to unlock value for our customers, suppliers, and employees. We believe the transaction will significantly enhance our ability to realize faster growth, lower system costs, and improved productivity for our partners.”
Denny Crawford, chief operating officer of All-Pak, said: “We are excited about joining forces with Berlin Packaging and see many terrific opportunities for the combined company going forward. With similar cultures and complementary geographies, the combination will allow both Berlin Packaging and All-Pak employees to continue delivering world class customer service, while providing them with opportunities for further career development in a dynamic and growing company.”
Upon completion of the acquisition, the combined entity will provide customers with wider geographic coverage, operating in over 40 sales offices and warehouse locations across the US, including Puerto Rico and an expanded Eastern US footprint. It will also offer customers a broader array of products, with over 24,000 stock keeping units available each day.
In addition, the combination will provide customers an expanded array of services, including custom packaging design, international sourcing, capital lending, supply chain optimization, inventory management, and assembly.
David Tayeh, managing director of Investcorp, said: “As this deal illustrates, Investcorp is committed to investing in the long-term growth and success of its portfolio companies. This is a highly compelling combination of two companies that on their own have shown a remarkable ability to achieve consistent growth despite challenging market conditions. Together, Berlin Packaging and All-Pak are perfectly aligned to expand in a highly fragmented industry.”
The combined entity will be headquartered in Chicago, while All-Pak will maintain a significant operational presence at all of its geographical locations. The transaction is expected to close by the end of February 2010, subject to customary closing conditions.