Mauser Packaging Solutions a leading global supplier of rigid packaging products and services, announced today that on February 1, 2024, it completed the acquisition of substantially all the assets of Consolidated Container Company, LLC, a manufacturer, reconditioner and distributor of industrial containers and provider of recycling and related services ("Consolidated Container").  With facilities in Minneapolis, Minnesota and Kansas City, Kansas, the acquisition is expected to be highly complementary to Mauser's existing business.

"The acquisition of Consolidated Container complements the Mauser product and service portfolio in many ways and creates tremendous opportunity for our customers, employees, and suppliers," said David Vergo, President of Mauser's North America Industrial Packaging segment.

"This is an exciting addition to the Mauser franchise, both for our customers and our shareholders," added Mark Burgess, CEO of Mauser Packaging Solutions.  "Consolidated Container brings an expanded geographical footprint and opportunities to improve efficiencies in our reconditioning business.  We expect this transaction to be margin accretive before synergies, with multiple levers for shareholder value creation."

Mauser paid $56 million in cash as consideration, funded from cash on hand.  The final purchase price remains subject to customary post-closing adjustments.

 

Source:prnewswire.com

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