TricorBraun is North America’s largest primary packaging distributor and one of the largest providers of packaging in the world
TricorBraun acquired by Ares Management and Ontario Teachers’ Pension Plan Board. (Credit: Gerd Altmann from Pixabay)
Global packaging leader TricorBraun (the “Company”) announced today the completion of its previously announced definitive stock purchase agreement with funds managed by Ares Management Corporation’s Private Equity Group (“Ares”) and Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”). Ares and Ontario Teachers’ have acquired a majority interest in the Company.
“We are excited to continue our exceptional growth with Ares and Ontario Teachers’ as our partners,” said Court Carruthers, President and CEO, TricorBraun. “We look forward to working with Ares and Ontario Teachers’ to deliver exceptional service to our customers while continuing to build the best place for the best people in packaging.”
TricorBraun is North America’s largest primary packaging distributor and one of the largest providers of packaging in the world. The company serves consumer packaged goods companies, from cutting-edge start-ups to the world’s most iconic brands, and is a critical packaging provider for the essential personal care and household cleaning, food and beverage, and healthcare/nutraceutical industries.
From rigid to flexible packaging, stock and custom capabilities, and countless options of materials, industries, and markets served, TricorBraun’s range of packaging solutions sets it apart. Serving customers since 1902, TricorBraun has grown to $1.5 billion in annual sales, with more than 1,100 team members in 50 locations throughout North America, Europe, and Asia.
TricorBraun’s management team, including Executive Chairman Keith Strope and Carruthers, will continue to lead the Company. TricorBraun’s leadership team will also retain a significant investment in the company, as will its former majority owner, AEA Investors.
“With the completion of our investment in TricorBraun, we are looking forward to taking the next step in partnering with the Company, Ontario Teachers’ and AEA,” said Brian Klos, Partner in Ares’ Private Equity Group. “We are excited about working with the talented team at TricorBraun as we look to build upon the Company’s success and history of growth.”
“TricorBraun has served as its customers’ trusted packaging partner for more than 100 years,” said Karen Frank, Senior Managing Director, Equities, Ontario Teachers’. “We are pleased to partner with Ares, AEA, and the strong management team to support TricorBraun’s next stage of growth and innovation.”
Terms of the deal were not disclosed.
Source: Company Press Release