TricorBraun and The Packaging Design Group announce TricorBraun's acquisition of The Packaging Design Group, a Maryland-based distributor of rigid packaging.
PDG was founded in 1995 by Kenneth Gillman and Peter Kallman, who have more than 70 years of combined experience in the field. Prior to forming PDG, Ken and Peter manufactured plastic closure systems, dispensing plugs, fitments, jars and custom-molded parts. As a result, they know the ins and outs of component design, component costing, quality control systems, engineering, and mold design and development.
"We're extremely excited about this opportunity. TricorBraun has an excellent reputation, like us, for being very focused on serving our customers. Being part of a like-minded organization the size of TricorBraun will present opportunities and advantages for our current customers." said Mr. Kenneth Gillman, Founding Partner of The Packaging Design Group.
Mr. Peter Kallman, also a Founding Partner added, "We bring a unique expertise particularly in the nutraceutical, pharmaceutical and healthcare markets that should create opportunities for TricorBraun as well. It's a great fit all around. Our entire team, Ken and I are excited to be part of the TricorBraun family and look forward to continuing to provide the high level of service to our customers with significant additional resources."
The Packaging Design Group will continue to operate under its current name and will become a division of TricorBraun with immediate access to all of the resources and the options that TricorBraun provides.
"The Packaging Design Group is a perfect fit for what we're trying to accomplish," said Keith J. Strope, President and Chief Executive Officer of TricorBraun. "Integrity and talent have always been the cornerstone of our growth. The folks at The Packaging Design Group have plenty of both. Their extensive knowledge and experience along with their customer service focus are what make them so attractive. The wholly-owned UK subsidiary, Packaging Design Limited, is also part of the deal and strengthens our presence in Europe. This addition to the family will definitely allow all of us to do more for all of our customers."
TricorBraun is a portfolio company of CHS Capital, a Chicago-based private equity firm. Founded in 1902 and headquartered in St. Louis, Missouri, TricorBraun is the largest distributor of rigid packaging solutions in North America, with over 40 locations globally and annual revenues of $1-billion. TricorBraun provides a complete array of rigid packaging containers and related components as well as comprehensive package design, engineering and technical services, domestic and global sourcing and logistics management. TricorBraun's customers are in almost every market imaginable–personal care, healthcare, household and industrial chemicals, food, wine and more.
Source : finance.yahoo.com