Private equity firm Larsen MacColl Partners has acquired US-based retail packaging specialist S. Walter Packaging.

Larsen MacColl partner Satya Ponnuru said: "We look forward to building the leading company in the retail packaging industry by leveraging the company’s strong market position, first-rate management team and unique design and global sourcing capabilities.

"We intend to aggressively grow the company both organically and through acquisition."

The financial terms of the transaction were not revealed. The acquisition was financed by NewSpring Mezzanine and Wells Fargo Bank.

"We intend to aggressively grow the company both organically and through acquisition."

Larsen MacColl named Kurt Koloseike as the new CEO of S. Walter Packaging.

Koloseike said: "We will continue to enhance our leading design, operational, customer service and logistics capabilities to serve our national accounts and small and medium-sized businesses.

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"We have a strong balance sheet and the operational and financial resources needed to hire additional talent and pursue strategic acquisitions for long-term growth."

Headquartered in Pennsylvania, S. Walter Packaging designs, sources and delivers coordinated packaging solutions to branded consumer products companies and retailers. The company offers shopping bags, boxes, tissue paper, wrapping paper, ribbons, bows and other packaging accessories to more than 10,000 customers across North America.

S. Walter Packaging serves various customers, ranging from well-known global retailers to small and medium-sized businesses.