Berlin Packaging Acquires Continental Packaging Solutions, Marking Second Acquisition in Ten Months |
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Berlin Packaging
111 N. Canal St., Suite 300
Chicago, IL, 60606
USA
Press release date: December 15, 2010
Expands Berlin's U.S. & Global Footprint to Enhance Services to Customers & Suppliers
CHICAGO, Dec. 15, 2010 - Berlin Packaging, a leading full-service supplier of plastic, glass, and metal containers and closures, today 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:
o 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.
o Provides an expanded array of services to Continental's customers, including custom packaging and graphic design, capital lending, and consulting services.
o Augments Berlin Packaging's on-the-ground Asian sourcing capabilities with the addition of Continental's full-time staff in mainland China.
o 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."
About Berlin Packaging
Berlin Packaging is one of North America's largest stocking suppliers of plastic, glass and metal containers and closures. With over 25,000 available SKUs, over 100 packaging consultants, and more than 70 sales and warehouse locations across North America, the company has the right products, expertise, and geographic proximity to help customers increase their net income through packaging products and services. Berlin Packaging supplies billions of containers and closures annually as well as warehousing and logistics services for customers of all sizes in all industries. It is the only company in its sector to be ISO 9001 certified, to have Customs-Trade Partnership Against Terrorism (C-TPAT) certification, and to achieve 99% on-time delivery of its shipments every month for over six years. Related services include Studio One Eleven, a full-service custom packaging and graphic design division; Berlin Global Packaging Group,a global sourcing solutions provider including custom packaging, order and quality management, and logistics; E3, a consulting division that helps customers unlock profit; Berlin Financial Services,whichprovides financing for equipment and capital improvements; Dangerous Goods, offering safe, economical, UN-certified packaging solutions for shipping dangerous and temperature-sensitive goods; Freund Container & Supply, a need-it-now packaging and industrial supplies provider with no minimum order requirements; and Qorpak, a global supplier of laboratory packaging and supplies. The company can be reached at 1-800-2-BERLIN or at www.BerlinPackaging.com.
About Investcorp
Investcorp is a leading provider and manager of alternative investment products. It has offices in New York, London, and Bahrain and is publicly traded on the Bahrain Stock Exchange (INVCORP). Investcorp has three business areas: corporate investment in the US, Europe, and the Gulf; real estate investment in the US; and global hedge funds. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography. As at September 30, 2010 Investcorp had $11.9 billion in assets under management.
SOURCE Berlin Packaging
CONTACT:Jill Schmidt,+1-847-415-9311,jills@sspr.com,orMolly Antos,+1-847-415-9327,mantos@sspr.com,both for Berlin Packaging
Web Site: http://www.BerlinPackaging.com
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