US-based private investment and equity firm Atlas Holdings has purchased Saxco International for an undisclosed sum.
Established in 1936, Saxco was acquired by The Sterling Group in 2010. It is a distributor of rigid packaging solutions.
It offers wine, spirits, craft beer and food markets with glass, metal, and plastic containers capsules, as well as closures, custom packaging and mould development services.
Atlas Holdings partner Sam Astor said: “Saxco’s proud heritage and sector expertise position the company well for sustained growth, particularly as specialty brands and craft producers gain market share across all beverage categories.
“There are eight times as many breweries in the US as there were a decade ago, and seven times as many distilleries. The number of wineries during this period has also continued to grow steadily.
“Saxco’s leadership team and dedicated workforce will now have the added capital and support to meet this growing demand by delivering value-added, superior customer service.”
Headquartered in Concord, California, Saxco currently has a customer base of more than 5,000 wineries, distillers, brewers and speciality food manufacturers across North America.
The company has more than 12 customer support and fulfilment centres in the US, Canada, and China. It currently employs more than 250 associates.
Saxco CEO Guy Marsala said: “This exciting new partnership with Atlas signals the start of the next great chapter in the Saxco legacy.
“Atlas’ proven record of investing the human and financial capital to strengthen fundamentally strong businesses is a perfect fit for where Saxco is today. The future of our business got brighter today, and we’re thrilled to seize the many opportunities ahead.”