Corrugated packaging provider Green Bay Packaging (GBP) has acquired Great Lakes Packaging Corporation and Midland Container Corporation from MidCon Holdings, a portfolio company of Arbor Investments, for an undisclosed amount.
MidCon is a manufacturer of corrugated containers, packaging and displays for the food, beverage and industrial sectors. It was advised by financial services firm Baird on the transaction.
Green Bay Packaging primarily manufactures corrugated container plants, folding cartons, recycled and virgin linerboard mills, pressure-sensitive label rollstock, specialty converting operations, timberlands and a sawmill facility.
Baird Packaging Investment Banking team head and managing director Justin Albert said: "An increasingly competitive environment among corrugated packaging suppliers is driving consolidation as companies seek to build market share, diversify product offerings and expand footprints to increase scale and maintain operational efficiency.
"That's certainly the case with this transaction, which broadens Green Bay Packaging's capabilities and geographic reach, enabling the new company to expand its presence with its customer base."
GBP president and CEO Will Kress said: "The acquisition allows us to grow our company, adding two organizations that have an excellent reputation for service and quality, and who run their operations with a similar business philosophy as ours."
The company closed the transaction of 31 October 2014 without disclosing its additional terms.
GBP executive vice-president Bryan Hollenbach further added: "The MidCon acquisition strengthens our point of purchase printing and display capabilities, broadens our reach into new markets, and provides us the potential to expand our presence with current customers. It also provides us with a dedicated workforce under great management."
