Rigid packaging designer and supplier TricorBraun has agreed to acquire family-owned specialised packaging supplies distributor Price Container and Packaging.
Price Container supplies rigid packaging for the industrial and food markets.
The deal is expected to be completed in September 2020. Financial details of the transaction are not disclosed.
TricorBraun president and CEO Court Carruthers said: “Our acquisition of Price Container will significantly add to our robust range of packaging solutions by expanding our industrial presence.
“As we continue to provide essential, quality packaging, we look forward to serving customers with their industrial and other market needs. We welcome Price Container to the TricorBraun family.”
Following the acquisition, all Price Container team members will continue with TricorBraun.
Additionally, the team will continue to operate from its existing locations in the Salt Lake City and southwest Washington areas.
Owner Ryan Price will hold a significant position in implementing “TricorBraun’s strategy to create a new industrial packaging platform”.
Once the deal is complete, Price Container and Packaging will operate as Price Container, a TricorBraun company.
Price said: “We’re proud to join a respected packaging leader, and with TricorBraun’s expansive reach, as well as commercial and operational excellence, we can grow while offering expanded services to our customers.
“I also look forward to our work with our supplier partners, which continues to be an important focus.”
TricorBraun is a portfolio company of private investment firm AEA Investors. Price Container will be the company’s eighth acquisition in the last three years.
In January this year, TricorBraun acquired Packaging Solutions Inc (PSI), a rigid packaging supplier for pharmaceutical, pet food and personal care sectors.