IPS Packaging to Purchase All-Star Packaging, Inc.
FOUNTAIN INN, S.C., March 3, 2006 -- Wholesale industrial packaging distributor IPS Packaging (http://www.ipspackaging.com) will soon have a third location in the Carolinas. The company today announced it is in the process of acquiring Charlotte, N.C.-based All-Star Packaging, Inc. (http://www.allstarpackaging.com), adding to
IPS's locations in Fountain Inn, S.C. and High Point, N.C.
Under the agreement, All-Star Packaging's president Paul Payerle will stay on at the Charlotte facility, as will most of the current All-Star staff. All-Star back-office
functions will move to IPS's South Carolina operation. "The acquisition of All-Star Packaging gives IPS a strategic location in Charlotte, allowing us to provide greater
coverage in that area," stated IPS founder and president Jerry W. Murdock. "By bringing All-Star Packaging under the IPS umbrella, we are giving their customers a bigger source of supply and a wide range of additional industrial packaging products to carry."
Murdock plans to continue expanding IPS's geographic marketplace through selective quality acquisitions that will fit its profiles.
"All-Star Packaging has always been a very strong competitor with good people," Murdock explained. "They have done a really good job selling value to their customer. In terms of further expansion, we're looking for that kind of quality distributor in a strategic location."
Payerle expressed optimism about the merger. "I viewed the acquisition of All-Star Packaging by IPS Packaging as an exceptionally positive development for our employees and our customers," Payerle stated. "IPS Packaging has a broader range of products, more suppliers, and a far more substantial internal support system. Altogether, this
enables All-Star Packaging to do a much better job serving our existing customer base and provides tremendous opportunities for future growth."
To learn more about IPS Packaging, visit www.ipspackaging.com. Information about All-Star Packaging, Inc. can be found at www.allstarpackaging.com.
Contact:
Jerry W. Murdock
IPS Packaging
864-862-1500 Ext. 110
jmurdock@ipack.com
http://www.ipspackaging.com
