US-based packaging company TricorBraun has agreed to acquire Mark’s Barrel Company (MBC) in an effort to expand its industrial packaging capabilities.
MBC offers reconditioning and recycling services for industrial containers, including steel and plastic barrels, drums and intermediate bulk containers for reuse.
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Through these services, the company aims to help customers reduce their environmental impact while offering an effective but cheaper alternative to new purchases.
The company will operate as TricorBraun Industrial Services after the deal, which is expected to close next month.
The financial terms of the transaction have not been disclosed.
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TricorBraun market development senior vice-president Brian McCarthy said: “Over the last 26 years, MBC has established a strong reputation in the industrial packaging and reconditioning industry for quality, service and efficiency.
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By GlobalData“Partnering with MBC is a tremendous opportunity to continue to provide our customers with more sustainable options.
“We look forward to welcoming Mark Schwietz and his team to the TricorBraun family and investing in the company’s continued growth.”
Following the acquisition, TricorBraun will retain all of MBC’s employees, who will continue to work from the company’s existing location near Salt Lake City, Utah.
MBC president Mark Schwietz said: “We have great respect for the TricorBraun team and share their passion for serving customers.
“Partnering with TricorBraun will allow us to take our company to the next step in our growth—for the benefit of our team members and customers.
“We are excited to join the TricorBraun team.”
Based in St Louis, Missouri, TricorBraun has so far partnered with management teams to purchase and expedite the growth of 36 packaging companies worldwide.
The company operates a network of more than 100 locations across the Americas, Europe, Asia and Australia.
In June this year, it completed its acquisition of Australian packaging company PB Packaging.
