Berlin Packaging chairman and CEO Andrew Berlin said that the acquisition enables the company to get closer to customers geographically, by adding local presence in important markets.
"As always, our goal is to help customers increase their net income by optimising their packaging costs, operations efficiency, and shelf impact. Bringing the Lerman team into our organisation strengthens our ability to do that," Berlin added.
The acquisition will expand Berlin Packaging’s presence in the north-east, add personal care and pharmaceutical packaging expertise, and complement its own know-how in those areas as well as in other areas such as food and beverage, chemical and industrial, household care, lab supply and dangerous goods packaging.
Berlin Packaging said the deal will also expand the services and offerings available to Lerman’s customers through its studio one eleven design, Berlin Global worldwide sourcing, E3 consulting, Berlin financial services lending, Freund container ordering convenience, Qorpak lab supplies and dangerous goods shipping systems.
Following the acquisition, the company is expected to have revenues exceeding $700m in 2012, with more than 80 sales offices and warehouse locations across North America.
Berlin Packaging is majority-owned by an alternative investment management firm, Investcorp.