US-based hybrid packaging supplier Berlin Packaging has purchased Canadian cannabis packaging solutions provider Cannasupplies for an undisclosed sum.
Previously part of PharmaSystems, Cannasupplies provides packaging solutions for all categories of cannabis products.
The company also claims to have significant knowledge of Canada’s regulatory framework.
With this acquisition, Berlin Packaging aims to strengthen its cannabis packaging offering in Canada and help bring enhanced expertise in the cannabis end-market.
Berlin Packaging CEO and president Bill Hayes said: “Acquiring Cannasupplies positions Berlin Packaging to capitalise on the incredible opportunities in this rapidly growing industry not only in Canada, but across the United States, as more states permit medical and recreational cannabis use.
“Cannasupplies shares our entrepreneurial mindset, our drive for constant growth and our commitment to compliant packaging solutions for our valued customers.”
Once the deal is completed, the company will be named Cannasupplies, a division of Consolidated Bottle Corporation.
Acquired by Berlin Packaging last November, Consolidated Bottle Corporation supplies packaging solutions for various sectors, including personal care, pharmaceutical, food, beverage, industrial and cannabis.
Following the deal, all Cannasupplies’ employees and locations will be held by Berlin Packaging.
Cannasupplies president Mark Finkelstein said: “Cannasupplies has experienced meteoric growth and our partnership with Berlin Packaging and Consolidated Bottle will accelerate this trajectory as we expand our cannabis packaging footprint across North America.”
Consolidated Bottle Corporation CEO Jonathan Rutman said: “Partnering with Cannasupplies will help us better serve our customers and will advance our business in the Canadian cannabis market.
“We are uniquely positioned in the Canadian market and this partnership will benefit our customers, our suppliers, and our employees.”
Last week, Berlin Packaging acquired Elias Valavanis, a supplier of bottles and jars for the food and beverage industries for an undisclosed amount.