US-based private equity firm Arbor Investments has completed the acquisition of Keyes Packaging for an undisclosed amount.
Keyes, headquartered in Wenatchee, Washington, is a provider of protective molded fiber and tissue wrap packaging for the food and beverage industry. The company operates two manufacturing facilities in Wenatchee and Yakima, Washington.
Arbor Investments partner Richard Boos said that the company targeted Keyes due to its superior product quality and reputation in the packaging industry.
"The Company has expanded profitably under the ownership of Tricor Pacific Capital, and we are thrilled to partner with the management team in their next phase of growth," Boos added.
Keyes president and CEO Rebecca Kalis said: "We are proud of what we have accomplished during the last several years, and we are looking forward to teaming with Arbor to move Keyes forward in its next chapter."
Arbor Investments, based in Chicago, Illinois, is a specialized private equity firm that focuses exclusively on acquiring premier companies in the food and beverage industry. The firm has acquired or invested in over 30 food and beverage companies in North America and currently has $600m of assets under management across three funds.
