Plethora Businesses Represents Shareholders in the Sale of Premiere Packaging Industries
15 May 2019
ORANGE, Calif., May 14, 2019 /PRNewswire/ -- Plethora Businesses has announced that it served as the exclusive M&A Advisor to Premiere Packaging Industries Inc (PPI) in connection with the sale of its assets to CNG-Spicers Paper (CNG).
Headquartered in Cerritos, CA, USA, PPI was founded in 1999 and has since grown into one of the leading full-line packaging supply distributors in North America. The Company specializes in providing customers with custom and stock corrugated and poly products used in a range of sectors, particularly manufacturing and large-scale distribution operations. PPI is known as an integrated solutions provider which has been a main catalyst to their continued sales growth. Their capabilities include auto-ship programs, fulfillment both in-house and off-site, and cost analysis for customers to ensure the most efficient use of materials, costs and time.
PPI President John Luyben will continue building on the strong foundation that he and his team have built over the last 20 years. Luyben will report to Spicers President Jan Gottesman, and the company will continue to operate independently under its Premiere Packaging Industries name.
"We're very excited about the outcome of this transaction" says Rob Connolly, of Plethora Businesses. "Our sale process generated interest from many of the top firms within the industry and CNG-Spicers presented the right mix of cultural alignment, strategic opportunities and a long-term investment approach." As a member of CNG's family of companies, both Spicers and PPI will benefit from the sharing of their core strengths of technology, product mix and logistics.
Financial terms of the transaction were not disclosed.
About CNG: CNG owns a range of sales and distribution business focused on global pulp, paper, tissue, packaging wood products and metal industries with more than $6 billion in annual sales. Its division, Spicers Paper, is a privately held, independent paper merchant serving the Western U.S. and is committed to ongoing investment in its core business of commercial printing papers while diversifying into growth areas such as wide-format, digital products and packaging. www.cng-inc.com
About Plethora Businesses: Plethora Businesses is a boutique M&A Advisory firm, providing Sell-side and Buy-side M&A, corporate strategy outsourcing, valuations and consulting services to middle market businesses. Plethora is celebrating its 20th year in business. www.plethorabusinesses.com
SOURCE Plethora Businesses