The two companies have similar capabilities: ridged packaging design and distribution. And they serve overlapping markets such as pet, food, beverage, household cleanser, and personal care. “The acquisition bolsters TricorBraun’s position in the Minneapolis market, providing an additional warehouse for continued growth,” according to the press release announcing the acquisition.
TricorBraun itself has been owned since late 2016 by the global private equity firm AEA Investors. When AEA acquired TricorBraun, Thomas Pryma, a partner at the firm told the press: “We believe TricorBraun is an excellent company operating in a highly attractive industry segment. They are well-positioned to make a significant impact in the rigid packaging market by continuing to offer their customers and supplier partners an impressive array of capabilities.”
And Pryma noted, “We have enjoyed a long relationship with the TricorBraun leadership and are extremely excited to partner with them. We look forward to helping them continue their growth both organically and through strategic acquisitions.”
Personal care packager TricorBraun making strategic acquisitions
As Pryma said, TricorBraun has been making acquisitions as part of its growth strategy. Last year at this time, the company bought the flexible packaging distributor Pacific Bag; in early 2018 TricorBraun acquired a healthcare packaging company called Package All; in late 2017 the company made its first flexible packaging deal with the acquisition of Taipak out of Canada; earlier that year the company acquired Continental Packaging Associates (a supplier that also served the cosmetics industry); and that year as well, TricorBraun acquired Salbro Bottle.
Terms of this week’s acquisition of Packaging Solutions Inc. have not been released. But the acquired company has been in business for some 25 years and sees the deal as an opportunity to grow: “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 of Packaging Solutions, Inc., says in the press release.
“Given our shared focus on the customer, TricorBraun is a natural home for PSI,” says Greenberg, adding, “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.”
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Deanna Utroske is a leading voice in the cosmetics and personal care industry as well as in the indie beauty movement. As Editor of CosmeticsDesign.com, she writes daily news about the business of beauty in the Americas region and regularly produces video interviews with cosmetics, fragrance, personal care, and packaging experts as well as with indie brand founders.
Deanna will be speaking next at the Uplink Live event in LA this month and at Green Beauty Night in February.