Crown Paper Group has completed the acquisition of Montebello Container, an independent corrugated sheet manufacturer based in Southern California, US.
Montebello president Anthony Salcido and vice-president John Salcido will continue to lead the company, post acquistion.
The company operates three facilities in Los Angeles, including a sheet feeder in La Mirada, a sheet plant in Santa Fe Springs, and a specialty sheet feeder in Pico Rivera.
Anthony Salcido and John Salcido said in a joint statement: "Joining Crown will benefit our customers in three ways: First, it will enable us to continue providing our customers with the levels of product quality, timeliness and responsiveness that they demand and have come to expect from us.
"Second, it will enable us to ensure our customers' product continuity via Crown's Port Townsend Paper mill.
"Third, it will provide us with access to Crown's team of executives, who have a track record of building excellent packaging businesses, and access to ample capital to invest in upgrades to operations."
Founded this year by the investment firm Lindsay Goldberg, Crown Paper Group is a holding company for investments in the paper and packaging industries, and is headquartered in Atlanta, Georgia, US.
Earlier this year, the company acquired Townsend Holdings, and came to own the Port Townsend paper mill, the Crown packaging plant, the Boxmaster packaging plant, as well as distribution centres in Kelowna, and Calgary, Canada.
Senior managing director and founder of 555 Capital Advisors Andre Guardi, who initiated the transaction with Crown, served as Montebello's financial advisor for the acquisition.
Image: Crown Paper Group has acquired US-based corrugated sheet manufacturer Montebello Container. Photo: courtesy of Adamr / FreeDigitalPhotos.net.
