The acquisition of Team Packaging is anticipated to help expand the product and services capabilities of 360Pack across the Western US as it seeks options for organic growth and business alliances
360Pack snaps up Team Packaging. (Credit: Rock Staar on Unsplash)
Packaging distribution company 360Pack has acquired Colorado, US-based privately held custom packaging solutions provider Team Packaging for an undisclosed sum.
The acquisition will help expand the product and service capabilities of 360Pack across the Western US.
Founded in 2003, Team Packaging is a full-service, premium custom packaging distribution company.
It offers flexible and fibre-based packaging, labelling, and equipment, as well as supply chain management, delivery and logistics, warehousing, and custom design services to customers in the food industry, meat processors, retail grocers, and other end-markets.
Team Packaging founder Mike Anderson said: “We are thrilled to be working with Kate Stock and the entire team at 360Pack in this new chapter for our business.
“360Pack and Shore Capital Partners have a unique partnership model that we found compelling, as it will allow us to continue supporting our customers with exceptional service while expanding our offerings through new innovation and additional investments in our current business.”
360Pack, a provider of smarter packaging distribution solutions, is supported by Shore Capital Partners, a Chicago-based private equity firm.
Both firms intend to seek options for organic growth and business alliances.
The transaction is 360Pack’s third acquisition and further bolsters the platform’s position as the full-service packaging solutions provider in the Western US.
The packaging distribution company combines local touch with international reach to provide smarter solutions that increase customers’ business. It has currently three locations in the Western US.
360Pack CEO Kate Stock said: “At 360Pack, we partner with our customers to help them unlock the next phase of growth by delivering what they need, when they need it, and at the right price.
“We couldn’t be happier that Mike Anderson, Becki Charchenko and the talented employees at Team Packaging decided to join forces with us – our partnership enhances virtually every element of our combined businesses, from end-market expertise to product knowledge to services provided.
“With our collective resources, we are better positioned to find smarter solutions that help drive growth and profitability for our customers.”