The acquisition of PMI Worldwide will allow HAVI to expand its product offerings and strategic souring capabilities to better serve global foodservice brands
The HAVI Group has acquired Pacific Market International (PMI Worldwide), a provider of sustainable food and beverage container solutions, for an undisclosed sum.
Established in 1983, PMI Worldwide is engaged in the designing, manufacturing and marketing of food and beverage container solutions.
The acquisition will allow HAVI to expand its product offerings and strategic souring capabilities to better serve global foodservice brands.
PMI Worldwide chairman and founder Rob Harris said: “I am thrilled that PMI has been acquired by a company that cares deeply about its employees and customers, with a commitment to corporate citizenship and sustainability.
“I am confident that under HAVI’s leadership, PMI will continue to prosper and add tremendous value to our consumers and the greater global marketplace.”
Based in Seattle, PMI Worldwide provides beverageware and food container solutions to global foodservice brands and retailers.
With more than 700 employees in seven countries, the firm offers two consumer brands called StanleyÒ and AladdinÒ that are sold in over 60 countries across the world.
PMI Worldwide also provides private label products for select global retailers. It manages three manufacturing facilities, including one in China and two in Brazil.
As part of the new structure, PMI Worldwide will continue to monitor by the existing leadership team and will run as a new HAVI business unit reporting to HAVI CEO Ravndal.
In a statement, Ravndal said: “We are thrilled to announce the acquisition of PMI Worldwide as both companies have similar, strong cultures and values and are passionate about serving our customers in extraordinary ways.
“The combination of our businesses will deliver best-in-class sourcing and complementary supply chain leadership capabilities around the world.”
J.P. Morgan acted as a financial advisor, while Neal Gerber Eisenberg served as legal counsel to HAVI. Baird acted as a financial advisor, while Perkins Coie served as legal counsel to PMI Worldwide.