Inovar Packaging has announced the strategic acquisition of The Kennedy Group, a US-headquartered label and packaging platform.
The company operates a network of two facilities at its headquarters in Willoughby, Ohio, and one in Levittown, Pennsylvania.
Kennedy Group offers market-tested and labelling solutions to various industries, including beverage, agriculture, and automotive.
The acquisition signifies Inovar’s tenth platform acquisition and is a key part of its expansion strategy, enhancing its presence in the Midwest and Northeast US regions.
It also brings new capabilities to Inovar such as pressure-sensitive, roll-fed, and radio-frequency identification (RFID) label technologies.
Inovar CEO Jeff Brezek said: “As we build out our platform, we continually seek opportunities to enter additional markets, attract new customers, and enhance our value as a trusted supplier by acquiring businesses that add new capabilities and production scale, while also expanding our services offering.
“The acquisition of The Kennedy Group is particularly attractive given their outstanding reputation as an innovative and customer-focused organisation.
“This combination boosts our production and distribution capacity in new regions and extends our capabilities with additional roll-fed, pressure-sensitive, RFID, and sustainability solutions. Above all, both organisations are comprised of incredibly talented and dedicated people who make everything we do possible. We are thrilled to partner together.”
Following the acquisition, Pat Kennedy and Todd Kennedy will maintain leadership roles within the business in partnership with Inovar.
Mike Kennedy, meanwhile, will assume an advisory role, supporting both The Kennedy Group and Inovar.
Greenburg & Traurig provided legal counsel to Inovar during the transaction while Mesirow Investment Banking acted as the exclusive financial advisor to The Kennedy Group during the transaction.
