Packaging company TricorBraun has entered into a definitive agreement to acquire Veritiv Containers, a rigid packaging solutions distributor, from Veritiv Operating Company.
This strategic move is set to boost TricorBraun’s expertise in rigid packaging and expand its presence across North America, particularly in sectors such as the food and beverage, wine and spirits, nutraceutical, industrial, and personal care markets.
Upon the completion of the transaction, which is expected to close in the first quarter (Q1) of 2025, Veritiv Containers will be rebranded and operate under the TricorBraun name. The acquisition is subject to customary regulatory approvals and closing conditions.
Veritiv Containers, which was previously known as All American Containers, operates from multiple facilities throughout North America. With this acquisition, TricorBraun aims to enhance its product offerings and service capabilities.
TricorBraun president and CEO Court Carruthers said: “This acquisition further enhances our North American footprint, offering customers expanded solutions and supply chain options.
“The Veritiv team is highly respected for their expertise, focus on quality, and customer service, and we are pleased to welcome them to the TricorBraun family.”
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The leadership team of Veritiv Containers will continue their roles under the new ownership, ensuring a seamless transition. Moreover, all dedicated team members will be offered positions with TricorBraun.
Veritiv Containers business leader Guy Considine said: “We are grateful to have been part of the Veritiv team since the acquisition of All American Containers, and we are excited to join TricorBraun because of its significant focus on rigid packaging, where we can continue to grow, develop, and take terrific care of our customers, suppliers, and team members.”
Guggenheim Securities provided financial advisory services while Sullivan & Cromwell offered legal advice to TricorBraun during the transaction.
