US-based primary packaging company TricorBraun has entered an agreement to acquire German glass packaging distributor Gläser & Flaschen.
Based in Berlin, Gläser & Flaschen supplies mason jars, bottles, cooking accessories and high-quality glass packaging for the preserved food market.
With an advanced distribution and operations centre in Wustermark, Brandenburg, the company serves commercial and private customers both at home and abroad.
The acquisition is intended to bolster TricorBraun’s position as a packaging provider in Europe by expanding its footprint on the continent.
The financial terms of the transaction have not been disclosed.
TricorBraun Europe president Declan McCarthy said: “Gläser & Flaschen has built a strong business known for its quality, innovation, and technical expertise.
“We are pleased to partner with the outstanding Gläser & Flaschen team to offer more supply chain options to customers, while investing in their continued growth and expansion.
“We welcome Gläser & Flaschen to the TricorBraun family.”
Following the deal, Gläser & Flaschen will operate as Gläser & Flaschen, a TricorBraun company.
TricorBraun will retain all of Gläser & Flaschen’s team members, who will continue to operate from the company’s existing location.
Gläser & Flaschen managing director Stefanie Burmeister said: “We have such an intense passion for our business, our talented team, our customers and suppliers, and our strong community in the preserved food world—we knew we needed an exceptional partner as we begin our next phase of growth.
“TricorBraun’s world-class reputation, paired with its focus on team members, service for customers, and emphasis on growth makes it our ideal home.”
Proventis Partners served as financial advisor to TricorBraun for the deal, which is expected to close next month.
Based in St Louis, Missouri, TricorBraun provides plastic, glass and aluminium containers, closures, dispensers, tubes and flexibles for various end markets.
In July this year, the company acquired SGB Packaging, a packaging supplier based in New Jersey.