Private equity firm Cyprium Investment Partners has exited its minority investment in Imperial Bag & Paper, a wholesale distributor of paper and plastic packaging for the foodservice industry and retailers across the US.
Imperial Bag & Paper's foodservice products include foil, bowls, cutlery, containers, boxes, packing tape, and wraps, among others.
Cyprium invested $12m in subordinated debt while backing Robert Tillis's acquisition of Imperial in January 2007.
Cyprium noted that Imperial grew over 159% to $275m in sales operating from over 500,000ft2 of warehouse space in Bayonne, New Jersey and Long Island, New York. Imperial also expanded geographically, and was able to complete three acquisitions during Cyprium's holding period.
