Packaging leader TricorBraun has acquired rigid packaging distributor Minneapolis-based Packaging Solutions, Inc. (PSI).
WHO: Packaging Solutions is a distributor and custom designer of a full range of container, closure, and component options in plastic, glass, and metal for companies within the pharmaceutical, cosmetic, personal care, automotive, OEM, and food & beverage industries.
Founded in 1902, TricorBraun is North America’s largest distributor of primary packaging and a portfolio company of AEA Investors. The company provides innovative solutions across a wide array of customer end markets in plastic and glass containers, closures, dispensers, tubes, and flexibles. TricorBraun operates from 50 locations globally.
WHY: A portfolio company of leading global private investment firm AEA Investors, TricorBraun is the packaging industry’s acquirer of choice, having acquired and successfully integrated more than 20 companies over the last 25 years. The acquisition bolsters TricorBraun’s position in the Minneapolis market, providing an additional warehouse for continued growth.
IN THEIR OWN WORDS: “Our acquisition of PSI strengthens our Minneapolis presence as we continue to grow across North America,” Court Carruthers, President and CEO, TricorBraun, said in a statement. “We look forward to serving our customers in this region with exceptional products and services, and we welcome PSI to the TricorBraun family.”
“For more than two decades, we’ve made our mark on the packaging industry and we are excited to start our next chapter with TricorBraun,” Doug Greenberg, President, Packaging Solutions, Inc., said in a statement. “Given our shared focus on the customer, TricorBraun is a natural home for PSI. With TricorBraun’s industry-leading custom design solutions and expansive supplier base, we are delighted to offer expanded packaging services and solutions to our customers.”
- TricorBraun has acquired Minneapolis-based Packaging Solutions.
- The terms of the agreement were not disclosed.
- PSI team members, including owners Doug Greenberg and John Greenberg, will remain with TricorBraun and the team will continue to work out of the company’s existing location.
- Effective with the acquisition, the Packaging Solutions, Inc. name has been retired and the company will operate as TricorBraun.
- PSI marks the company’s seventh acquisition in the last three years, during AEA’s ownership.
Photo: Eric Muhr via Unsplash